Medical equipment maker Becton, Dickinson and Co. announced Sunday it will buy San Diego-based CareFusion in a cash and stock deal worth $12.2 billion.
New Jersey-based Becton, Dickinson, which is commonly known as BD, said the merger will create a global leader in medication management and patient-safety solutions. CareFusion has developed innovative products and systems for medication management.
CareFusion shareholders are to receive $49 in cash and 0.0777 of a share of BD for each share of CareFusion, or a total of $58 per CareFusion share based on BD’s closing price as on Friday. The agreement has been unanimously approved by the boards of both companies.
“BD’s acquisition of CareFusion allows us to align our highly complementary technologies and products to address unmet needs in the growing $20 billion global medication management industry, which leverages BD’s world-wide infrastructure. We’ve long admired CareFusion’s strong franchises and look forward to welcoming their talented team to BD,” said Vincent A. Forlenza, BD’s chairman, CEO and president.
CareFusion will operate as part of BD’s medical segment, and BD said it is committed to maintaining an active presence in San Diego.
“As part of BD, we see new growth opportunities for our products in global markets, new value we can create for our customers and new opportunities for our employees as part of what will become one of the largest, global leaders in med-tech,” said Kieran T. Gallahue, CareFusion’s chairman and chief executive officer.
