BD has announced that it will be acquiring CR Bard, a medical technology leader in the fields of vascular, urology, oncology and surgical specialty products.
The $24 billion (18.71 billion pounds) deal will create a highly differentiated medical technology company, building on BD's existing leadership position in medication management and infection prevention.
“BD has agreed a deal to purchase fellow medical technology company Bard for $24 billion.“
Bard's strong product portfolio and innovation pipeline is also expected to increase BD's opportunities in several fast-growing clinical areas, particularly in terms of non-US markets.
A designated integration team comprised of senior members of both organisations will oversee the merger process, with Tim Ring - chairman and chief executive of Bard - and an additional Bard director expected to join the BD board of directors.
BD will create a third segment within the company called BD Interventional when the deal closes this autumn.
Vince Forlenza, BD's chairman and chief executive officer, said: "I am excited to welcome Bard's talented employees to our strong and dedicated team as we bring together two companies with such complementary capabilities, values and strong reputations for delivering superior results."
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