BD Announces Agreement to Acquire Safety Syringes, Inc.
Broadens Healthcare Worker Safety Offering to Include Passive Safety Technologies
FRANKLIN LAKES, N.J., July 11, 2012 /PRNewswire/ -- BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, announced today that it has entered into a definitive agreement to acquire Safety Syringes, Inc., a privately held California-based company that specializes in the development of anti-needlestick devices for prefilled syringes. The acquisition, which is subject to the satisfaction of customary closing conditions, including regulatory approvals, is expected to close by the end of BD's fiscal year 2012. The financial terms of the agreement were not disclosed.
The acquisition would enable BD to provide passive safety offerings to any prefillable syringe customer. Safety Syringes, Inc. is a category leader for passive needle shields and guards for prefilled syringes, currently supporting more than 20 drugs on the market.
"This pending acquisition is well aligned to BD's strategy of applying technology and clinical knowledge to make healthcare more effective, efficient and safe. Developments for parenteral drug delivery systems continue to be a part of BD's long-term strategy," said William A. Kozy, BD Executive Vice President. "This acquisition is intended to provide our BD Medical - Pharmaceutical Systems unit with additional safety features for prefillable syringes, helping to protect against accidental needlesticks by providing safer injections for healthcare workers and end users."
Safety Syringe, Inc.'s UltraSafe® Passive products are specifically designed for prefillable syringes. Using innovative passive protection, these products provide a drug delivery system with a safety guard that passively (automatically) locks into place, delivering easy-to-use injury protection and safety.
"We believe BD's prefillable syringe expertise, combined with Safety Syringes' product portfolio and device development expertise, will enable new and innovative safety technology development to prepare the next generation of safety-engineered prefillable syringes," said Claude Dartiguelongue, President, BD Medical - Pharmaceutical Systems.
BD expects the transaction to be minimally dilutive for fiscal year 2012, and does not expect it to impact BD's previously communicated 2012 earnings guidance.
BD is a leading global medical technology company that develops, manufactures and sells medical devices, instrument systems and reagents. The Company is dedicated to improving people's health throughout the world. BD is focused on improving drug delivery, enhancing the quality and speed of diagnosing infectious diseases and cancers, and advancing research, discovery and production of new drugs and vaccines. BD's capabilities are instrumental in combating many of the world's most pressing diseases. Founded in 1897 and headquartered in Franklin Lakes, New Jersey, BD employs approximately 29,000 associates in more than 50 countries throughout the world. The Company serves healthcare institutions, life science researchers, clinical laboratories, the pharmaceutical industry and the general public. 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 Safety Syringes, Inc. These forward-looking statements may be indentified by the use of the words "believe", "expect" or other words of similar meaning in conjunction with statements regarding the timing of the anticipated acquisition, the potential benefits of the anticipated acquisition and events or developments that BD expects to occur or anticipates occurring in the future. 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 satisfaction of closing conditions with respect to the acquisition; the ability to successfully integrate Safety Syringes, Inc.'s operations and programs with BD's and the time and resources required to do so; difficulties inherent in product development and delays in product introductions; competitive factors; pricing and market share pressures; increases in energy costs and their effect on, among other things, the cost of producing BD's products; fluctuations in costs and availability of raw materials and in BD's ability to maintain favorable supplier arrangements and relationships; changes in healthcare or other governmental regulation, including changes in government pricing and reimbursement policies or other cost containment reforms; 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.
SOURCE BD (Becton, Dickinson and Company)
Released July 11, 2012