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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 launched the BD Rhapsody™ ATAC-Seq Assay, a new single-cell research tool to study molecular mechanisms of diseases like cancer and infectious diseases. This tool helps scientists analyze the epigenome at a single-cell level, enhancing their understanding of DNA regulation and disease progression. The assay is part of BD's comprehensive multiomics solutions portfolio, which includes other single-cell assays and bioinformatics tools. These tools aim to advance precision medicine by uncovering insights into rare cells implicated in various diseases. The BD Rhapsody™ Single-Cell Analysis System supports this new assay, available globally for purchase through BD representatives or their ecommerce portal.
BD (Becton, Dickinson and Company) (NYSE: BDX), a global medical technology leader, announced the dates for its upcoming earnings webcasts for the third and fourth quarters of fiscal year 2024. The third-quarter webcast is scheduled for Thursday, August 1, 2024, at 8:00 a.m. ET. The fourth-quarter webcast will take place on Thursday, November 7, 2024, at 8:00 a.m. ET. BD will release detailed announcements before each webcast to confirm the date and time of the earnings releases and webcasts.
Edwards Lifesciences announced the sale of its Critical Care product group to BD (Becton, Dickinson and Company) for $4.2 billion in cash. The transaction will enhance Edwards' financial flexibility and enable strategic investments in structural heart disease technologies. The deal is expected to close by the end of 2024, pending regulatory approvals. Edwards aims to focus on advancing innovations in aortic, mitral, tricuspid, and pulmonic treatments. The sale is anticipated to have an immaterial impact on adjusted EPS in 2024.
BD (Becton, Dickinson and Company) has announced an agreement to acquire Edwards Lifesciences' Critical Care product group for $4.2 billion in cash. This acquisition aims to expand BD's portfolio of smart connected care solutions and enhance its position in advanced monitoring technologies.
Critical Care, a global leader in advanced patient monitoring, generated over $900 million in revenue in 2023 and employs approximately 4,500 people. The acquisition is expected to be immediately accretive to BD's revenue growth, adjusted gross and operating margins, and adjusted earnings per share.
Critical Care will operate as a separate business unit within BD's Medical segment and will continue to be based in Irvine, California, under the leadership of Katie Szyman. The transaction is expected to close by the end of the calendar year, subject to regulatory reviews and closing conditions.
BD plans to fund the acquisition with a combination of $1 billion in cash and $3.2 billion in new debt. The company expects to achieve additional margin expansion and value through cost synergies and efficiencies.
On May 15, 2024, BD (Becton, Dickinson and Company) announced FDA approval for the use of self-collected vaginal specimens for HPV testing when cervical specimens cannot be obtained. This approval allows women to collect samples in various healthcare settings, including non-traditional locales like retail pharmacies and mobile clinics. The BD Onclarity™ HPV Assay, which doesn't require a traditional Pap smear, enhances access to cervical cancer screening, particularly for underserved populations. Around 25% of U.S. women do not receive regular cervical cancer screenings, with higher rates of cervical cancer among Black, Hispanic, and American Indian women. This initiative aims to increase screening acceptance and participation, offering a significant advancement in cervical cancer prevention.
BD reported strong financial results for the second quarter of fiscal 2024, with revenue increasing by 4.6%, GAAP and adjusted EPS growing by 20.9% and 10.8% respectively, and year-to-date cash flow improving significantly. The company raised its full-year adjusted EPS guidance and affirmed organic revenue growth guidance. BD's performance was driven by its diverse portfolio and focus on operational excellence.
The company's recent highlights include increasing domestic production of syringes, launching new products such as automated dispensing cabinet systems and cell sorters, and forming strategic partnerships to enhance healthcare solutions. BD also received recognition for innovation and employee well-being.
BD (Becton, Dickinson and Company) declares a quarterly dividend of $0.95 per common share, payable on June 28, 2024. The indicated annual dividend rate is $3.80 per share.
BD (Becton, Dickinson and Company) will be presenting at the Bank of America Securities Health Care Conference 2024 on May 14, 2024. The presentation will be live-streamed on BD's investor relations website.
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