BD Acquires CRISI Medical Systems
Joint development of BD Intelliport™ Medication Management System is the first step in the creation of new injection safety market
FRANKLIN LAKES, N.J., March 2, 2015 /PRNewswire/ -- BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today announced the acquisition of CRISI Medical Systems, a San Diego-based medical technology company dedicated to improving the safety and delivery of IV injectable medications. The acquisition furthers BD's position in helping address preventable medication errors and improve care delivery efficiencies.
BD and CRISI entered into an exclusive partnership in June 2013 to jointly develop the BD Intelliport™ Medication Management System, a first-of-its-kind medication management solution for manual IV bolus injections. The Intelliport system is the first and only solution to provide real-time drug identification, dose measurement and allergy detection at the point of injection while wirelessly sending captured information directly into the patient's electronic medical record (EMR) following medication administration. The Intelliport system received clearance from the U.S. Food and Drug Administration (FDA) in December 2014 and is expected to be commercially available in spring 2015.
"We are very excited about the CRISI acquisition. It gives BD access to the injection safety market with a differentiated platform that we believe, when combined with our pending CareFusion acquisition, will significantly enhance our growing end-to-end IV medication safety offering," said Tom Polen, Segment President, BD Medical. "The Intelliport system fills a need that has remained unmet for decades – the use of technology to reduce the likelihood of human error in the practice of injectable medication delivery."
"We found the perfect partner in BD and are very pleased to have been on this journey together to create and introduce the Intelliport system to the medical community," commented Michael K. Perry, Chief Executive Officer, CRISI Medical Systems.
"By combining forces with CRISI, BD will continue moving forward with raising awareness of preventable medication errors. We will also have a sophisticated offering to help support healthcare providers in their efforts to exceed compliance standards while delivering safe and exceptional patient care," said William A. Tozzi, President, BD Medical – Medical Surgical Systems. "We are pleased to welcome this new platform to BD."
Financial details on the acquisition are not being disclosed at this time. BD expects the transaction will be immaterial and does not expect it to impact BD's previously communicated fiscal year 2015 earnings guidance.
BD is a leading medical technology company that partners with customers and stakeholders to address many of the world's most pressing and evolving health needs. Our innovative solutions are focused on improving drug delivery, enhancing the diagnosis of infectious diseases and cancers, supporting the management of diabetes and advancing cellular research. We are more than 30,000 associates in 50 countries who strive to fulfill our purpose of "Helping all people live healthy lives" by advancing the quality, accessibility, safety and affordability of healthcare around the world. For more information, please visit www.bd.com.
This press release contains certain estimates and other forward-looking statements (as defined under Federal securities laws) regarding the acquisition of CRISI Medical Systems. These forward-looking statements may be identified by the use of the words "believe", "expect" or other words of similar meaning in conjunction with statements regarding the potential impact of the acquisition. All such statements are based upon current expectations of BD and involve a number of business risks and uncertainties. Actual results could vary materially from anticipated results described, implied or projected in any forward-looking statement. With respect to forward-looking statements contained herein, factors that could cause actual results to vary materially from any forward-looking statement include, but are not limited to: the ability to successfully integrate CRISI Medical Systems' operations and programs with BD's, the time and resources required to do so and the possibility that the anticipated benefits of the acquisition will not be realized; difficulties inherent in product development and delays in product introductions; the demand for CRISI Medical System's product; competitive factors; pricing and market pressures; as well as other factors discussed in BD's filings with the Securities and Exchange Commission. We do not intend to update any forward-looking statements to reflect events or circumstances after the date hereof except as required by applicable laws or regulations.
Monique N. Dolecki
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SOURCE BD (Becton, Dickinson and Company)
Released March 2, 2015