BD Acquires MedKeeper to Offer Cloud-based, Connected Pharmacy Software
BD (Becton, Dickinson and Company) has acquired MedKeeper, a provider of cloud-based pharmacy management applications, enhancing its commitment to Smart, Connected Care. This strategic acquisition aims to optimize IV workflow by integrating MedKeeper's solutions into BD's existing medication management offerings. The move addresses the growing need for customizable pharmacy software in light of COVID-related challenges. The transaction is expected to have an immaterial impact on BD's fiscal 2022 financial results.
- Acquisition of MedKeeper enhances BD's portfolio in pharmacy management.
- Combines MedKeeper's technology with BD's expertise for optimized compounded medication preparation.
- Addresses critical needs in pharmacies, including compliance and inventory tracking.
- Integration risks associated with MedKeeper's technology and personnel.
- Potential failure to realize anticipated benefits of the acquisition.
Acquisition adds to company's recent growth in high-technology pharmacy solutions and further accelerates the company's commitment to Smart, Connected Care – offering a customizable platform to optimize IV workflow
FRANKLIN LAKES, N.J., July 28, 2022 /PRNewswire/ -- BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, announced today it has acquired MedKeeper, a provider of modern, cloud-based pharmacy management applications.
MedKeeper strategically complements BD's existing presence in the pharmacy – where the company has pioneered solutions in compounding, logistics workflow, controlled substance management and inventory optimization.
MedKeeper's platform will become part of the company's existing portfolio of connected medication management capabilities. By combining MedKeeper's platform with BD's broad technology expertise, the companies will work to optimize the preparation of compounded medications – a critical need in the pharmacy today.
"Preparing the right dose for patients requires a combination of factors – including personnel, training, and compliance. Pharmacy leaders require IV workflow management technology that is personalized to their needs and works within their environment," said Mike Garrison, Worldwide President of Medication Management Solutions at BD. "Adding MedKeeper to our portfolio will enable us to offer our customers easy to use, customizable solutions that make meaningful and incremental progress in IV workflow management."
Today, many pharmacies leverage a combination of both manual and technical tools for their IV workflow management system. Adding MedKeeper to BD's Medication Management Solutions portfolio will further strengthen the company's ability to deliver solutions that best meet customers' needs – now and in the future.
"Demands in today's pharmacy environment, such as COVID-impacted labor shortages and changing regulatory requirements, have further exacerbated the need for customizable pharmacy software solutions to support flexible, directed workflow, inventory tracking and reporting needs in sterile and non-sterile compounding," said Garrison. "Manual, time-consuming procedures that might once have been 'good enough' now can be replaced and augmented by software that enables pharmacists to provide a higher standard of care."
BD and MedKeeper will work to provide customers with flexibility and capabilities in meeting industry standards for preparing compounded medications, incorporating the latest regulatory guidance. Together, the companies are dedicated to ensuring that every customer has a workflow solution that best supports their environment and delivers efficiencies to their frontline clinicians.
The transaction is expected to be immaterial to BD's fiscal 2022 financial results.
About BD
BD is one of the largest global medical technology companies in the world and is advancing the world of health™ by improving medical discovery, diagnostics and the delivery of care. The company supports the heroes on the frontlines of health care by developing innovative technology, services and solutions that help advance both clinical therapy for patients and clinical process for health care providers. BD and its 70,000 employees have a passion and commitment to help enhance the safety and efficiency of clinicians' care delivery process, enable laboratory scientists to accurately detect disease and advance researchers' capabilities to develop the next generation of diagnostics and therapeutics. BD has a presence in virtually every country and partners with organizations around the world to address some of the most challenging global health issues. By working in close collaboration with customers, BD can help enhance outcomes, lower costs, increase efficiencies, improve safety and expand access to health care. For more information on BD, please visit bd.com or connect with us on LinkedIn at www.linkedin.com/company/bd1/ and Twitter @BDandCo.
FORWARD LOOKING STATEMENTS
This press release contains certain estimates and other forward-looking statements (as defined under Federal securities laws) regarding the anticipated benefits of the acquisition of MedKeeper. Forward looking statements generally are accompanied by words such as "will", "expect", or similar words, phrases or expressions. These statements are based on the current expectations of BD management and are subject to a number of risks and uncertainties regarding MedKeeper's business and the acquisition, and actual results may differ materially from any anticipated results described, implied or projected in any forward-looking statement. These risks and uncertainties include, but are not limited to, risks relating to the integration of MedKeeper's technology, software and employees into BD and the time and resources required to do so and the possibility that the anticipated benefits of the acquisition will not be realized or will not be realized within the expected timeframe; competitive factors, including the development of new technologies by other companies and pricing and market share pressures; changes in healthcare or other governmental regulation; risks relating to the ability to maintain favorable supplier arrangements and relationships; changes in regional, national or foreign economic conditions, as well as other factors discussed in BD's filings with the Securities Exchange Commission. BD does 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.
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SOURCE BD (Becton, Dickinson and Company)
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