BD (Becton, Dickinson and Company), a global medical technology firm, has completed the previously announced acquisition of Edwards Lifesciences’ Critical Care product group in an all-cash transaction valued at $4.2bn.
The Critical Care division will now operate under the name BD Advanced Patient Monitoring.
The acquisition was announced in June this year.
BD Advanced Patient Monitoring will offer advanced monitoring solutions, significantly enhancing BD’s portfolio of smart connected care technologies.
The division features an array of advanced monitoring tools, artificial intelligence (AI)-driven clinical decision support, and an innovation pipeline.
Its technologies are frequently utilised alongside the BD Alaris Infusion System in operating rooms and intensive care units.
BD Advanced Patient Monitoring’s portfolio features the Swan Ganz pulmonary artery catheter, minimally invasive sensors, non-invasive cuffs, and tissue oximetry sensors and monitors.
Its smart technologies use data analytics, machine learning, and AI to enhance clinical decision-making and patient condition insights.
Operating as a distinct unit within BD’s Medical segment, BD Advanced Patient Monitoring will remain based in Irvine, California. It will operate under the leadership of Katie Szyman, the current corporate vice president of Critical Care for Edwards.
BD CEO, chairman and president Tom Polen said: “Today, BD is proud to welcome BD Advanced Patient Monitoring, whose leading technologies, AI-enabled solutions and strong innovation pipeline expand our portfolio of smart, connected care solutions, create significant value for customers, and put BD at the forefront of enabling the future of health care.”
Edwards Lifesciences will use the net proceeds from the sale towards funding strategic initiatives, including the previously announced acquisitions and share repurchases.
Additionally, the heart innovation company has announced that its Board of Directors has approved an additional $1.5bn for share repurchases.
This follows a recent $500m Accelerated Share Repurchase agreement and a previous $500m in stock repurchases through a 10b5-1 plan and open market transactions.
Edwards Lifesciences CEO Bernard Zovighian said: “The sale of Critical Care reflects our sharpened focus as a structural heart innovator.
“Within our existing business, TAVR has significant opportunities to grow and improve how AS patients are treated, TMTT’s contribution to Edwards’ growth is just getting started, and we continue to expand our surgical leadership.”
