Sector News

BD plans $540M sale of surgical instrumentation platform to Steris

June 24, 2023
Life sciences

Becton Dickinson, one of the world’s largest medical technology companies, said in a statement Tuesday it has entered into a definitive agreement to sell its surgical instrumentation platform to Steris, an Ohio-based medical device firm specializing in infection prevention.

The sale includes BD’s V. Mueller, Snowden-Pencer and Genesis brands as well as three manufacturing facilities in St. Louis, Cleveland, and Tuttlingen, Germany. Some 360 employees will transfer to Steris when the deal closes by the end of September.

BD’s surgical instrumentation platform is part of the company’s interventional business segment.

In a statement, New Jersey-based BD said selling the platform “advances the ‘Simplify’ pillar” of the firm’s strategy to slim its product portfolio and manufacturing network.

The transaction is significant for Steris, which employs 17,000 people worldwide. The company had global sales of $4.96 billion and a net loss of $27.9 million in its most recent fiscal year.

Needham analysts led by Mike Matson applauded the transaction. READ MORE

By Peter Green

Source: medtechdive.com

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