In a medical technology merger with implications for the healthcare sector in the United States and beyond, Becton Dickinson is acquiring C.R.
Under the deal announced Sunday, Franklin Lakes, NJ-based Becton Dickinson (NYSE: BD) will pay Bard (NYSE: BCR) shareholders approximately $222.93 in cash and 0.5077 shares of BD stock per Bard share.
The company says that Bard will help it expand beyond diabetes into areas such as peripheral vascular disease, urology, hernia, and cancer.
BD says that bringing Bard’s vascular products, such as catheters and ports, together with its devices that prepare, dispense, and administer drugs will help the combined entity address a wider range of medication management needs.
BD says that Tom Polen, who is executive vice president of the BD Medical Segment, will become president of BD, effective immediately.