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Becton, Dickinson and Company (BD) (NYSE: BDX) is a global medical technology firm committed to advancing healthcare through the development, manufacture, and sale of a broad range of medical supplies, devices, laboratory equipment, and diagnostic products. Established in 1897, BD's mission is to enhance medical discovery, diagnostics, and care delivery. The company's extensive product portfolio serves healthcare institutions, physicians, life science researchers, and others across the globe.
BD is noted for being the world’s largest manufacturer and distributor of medical surgical products such as needles, syringes, and sharps-disposal units. The company also excels in producing pre-filled devices, diagnostic instruments, and reagents. Furthermore, BD offers sophisticated flow cytometry and cell-imaging systems. BD Medical represents nearly half of the company's total business, while BD Life Sciences and BD Interventional contribute 27% and 24% of the 2023 revenue, respectively. Impressively, international revenue accounts for 43% of the company's business.
Recent achievements and projects underscore BD's commitment to innovation and sustainability. The company recently collaborated with health care institutions in Denmark to explore recycling used blood collection tubes, achieving significant environmental advancements without compromising safety or quality.
In a pivotal development, BD announced the global commercial release of new cell sorters, enabling researchers in fields such as cell biology, cancer research, and immunology to gain new insights. The BD FACSDiscover™ S8 Cell Sorters incorporate groundbreaking technologies like BD CellView™ Image Technology and BD SpectralFX™ Technology, significantly enhancing real-time imaging and spectral flow cytometry.
BD also reported robust financial performance for the second quarter of fiscal 2024, highlighting strong operating margins and cash flow. This success led to an optimistic outlook and an increased earnings guidance, demonstrating the company’s resilience and strategic execution.
Further solidifying its market position, BD is set to acquire Edwards Lifesciences' Critical Care product group for $4.2 billion. This acquisition expands BD’s portfolio in smart connected care solutions, leveraging advanced AI algorithms for better patient outcomes and adding significant value to its operations.
With a presence in almost every country and a workforce of over 70,000 employees, BD remains dedicated to advancing the world of health. The company works closely with customers and partners globally to address complex health challenges, enhance clinical outcomes, and expand access to healthcare.
BD (Becton, Dickinson and Company) has partnered with Direct Relief and the National Association of Community Health Centers (NACHC) to allocate $1.08 million to four community health centers. This funding aims to improve chronic disease management for underserved populations. Each center will receive $270,000 to enhance culturally sensitive care and pharmacist-led education. The initiative, part of the BD Helping Build Healthy Communities program, has supported 52 centers since 2013, totaling $22.6 million in contributions.
BD (Becton, Dickinson and Company) reported revenue of $4.6 billion for Q3 2022, a 0.7% increase year-over-year. Base revenue growth was 6.0%, with a notable decline in COVID-only testing revenues to $76 million from $300 million previously. GAAP diluted EPS was $1.28, while adjusted EPS rose 16.7% to $2.66. The company raised its full-year revenue guidance to approximately $18.75-$18.83 billion, reflecting 8.75%-9.25% growth, and adjusted EPS guidance to $11.28-$11.35. BD's ongoing acquisitions and innovations support its growth strategy amid macroeconomic challenges.
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.
BD (Becton, Dickinson and Company) has launched a new molecular PCR test for the monkeypox virus, now available for research use outside the U.S. This test leverages the BD MAX™ System, providing fast and efficient results for laboratories. The BD MAX™ platform can process up to 24 samples in under three hours. This initiative, developed in partnership with CerTest Biotec, aims to enhance research capabilities amidst a global health emergency declared by the World Health Organization. This test is critical for understanding and controlling the spread of monkeypox.
The Board of Directors of BD (Becton, Dickinson and Company) has declared a quarterly dividend of $0.87 per common share, payable on September 30, 2022, to shareholders on record as of September 9, 2022. This results in an annual dividend rate of $3.48 per share, reflecting the company's commitment to returning value to its shareholders. BD continues to advance global health through innovative medical technology, ensuring safety and efficiency in healthcare delivery.
BD (Becton, Dickinson and Company) has completed its acquisition of Parata Systems, enhancing its presence in the pharmacy automation market valued at $600 million, projected to grow to $1.5 billion within a decade.
This acquisition aligns with BD's innovation strategy and aims to drive smart, connected care. The Parata portfolio will augment BD's Medication Management Solutions, addressing industry challenges such as clinician shortages and increased demand on pharmacy services.
BD (Becton, Dickinson and Company) will report its financial results for the third quarter of fiscal year 2022 on August 4, 2022, at 6:30 a.m. ET. The report will include summary financial information from the quarter ending June 30, 2022. An audio webcast will follow at 8 a.m. ET, discussing the results and operational updates. BD remains a leading global medical technology company, committed to improving health care through innovative solutions and technologies.
BD (Becton, Dickinson and Company) has appointed Rishi Grover as the new executive vice president and chief integrated supply chain officer, effective July 7, 2022. Grover, who brings over 20 years of experience in manufacturing and supply chain, previously held senior roles at Carrier. He will oversee Supply Chain, Operations, Procurement, Sustainability, and EHS teams and will be part of the BD Executive Leadership Team. Grover succeeds Alexandre Conroy, who is retiring after 31 years with the company.
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