BD Completes Acquisition of HandyLab, Inc.
Gains Industry-leading Molecular Diagnostic Automation Platform
FRANKLIN LAKES, N.J., Nov. 20 /PRNewswire-FirstCall/ -- BD (Becton, Dickinson and Company) (NYSE: BDX) today announced the completion of its acquisition of HandyLab, Inc., an Ann Arbor, Michigan-based company that develops and manufactures molecular diagnostic assays and automation platforms.
In May 2009, BD and HandyLab announced an exclusive agreement for BD to develop and commercialize molecular assays on the HandyLab Jaguar(TM) platform, the first fully integrated molecular diagnostic system to provide hands-off operation, incorporating clinical sample preparation, nucleic acid extraction, and microfluidic real-time polymerase chain reaction (PCR) amplification and detection in a simple bench-top system. The self-contained workstation is designed to accommodate both batch workflows and on-demand testing for maximum lab efficiency and flexibility.
With this acquisition, BD will migrate its BD GeneOhm(TM) molecular assays for Methicillin-resistant Staphylococcus aureus (MRSA), Clostridium difficile and Vancomycin-resistant Enterococcus (VRE) onto the new platform and will market them as the new BD MAX(TM) system, an evolution of the current Jaguar(TM) system.
"HandyLab's high-quality organization and industry-leading technology complement BD's capabilities and healthcare-associated infections strategy, which requires the throughput, simplicity and flexibility that the HandyLab platform provides," said Philippe Jacon, President, BD Diagnostics - Diagnostic Systems. "We plan to provide laboratories with a broad molecular test menu on a very advanced automation platform."
The healthcare-associated infections (HAI) opportunity is emerging worldwide and is potentially very large, and BD has a leading position with its BD GeneOhm molecular testing product line. As hospital screening and testing programs expand, they will require flexible, state-of-the-art automation systems to support their evolving needs. The flexibility of this novel platform will allow further expansion of the BD molecular diagnostic menu.
BD paid $275 million for HandyLab. The financial impact of the acquisition on fiscal year 2010 earnings has been incorporated into the guidance BD provided during its earnings call on November 4, 2009.
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 approximately 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 forward-looking statements (as defined under Federal securities laws) regarding the acquisition of HandyLab, Inc., the potential benefits of the 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 ability to successfully integrate HandyLab'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; changes in healthcare or other governmental regulation, including changes in government pricing and reimbursement policies or other cost containment reforms; 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; uncertainties of litigation (as described in BD's filings with the Securities and Exchange Commission); the effects of potential pandemic diseases; and issuance of new or revised accounting standards, as well as other factors discussed in this press release and 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 November 20, 2009