Becton, Dickinson and Company Buys Medical Dye Maker Sirigen Inc. for Undisclosed Amount
Published: Aug 28, 2012
Sirigen's polymer technology is based on Nobel Prize-winning research in conductive plastics and creates the potential for the development of novel dyes that are four to ten times brighter than conventional dyes – a breakthrough in the field.
"This new technology is a natural complement to our instrument platforms and reagent portfolio," said Alberto Mas, President, BD Biosciences. "We believe that the acquisition will enable us to develop a continuous cadence of novel, unique dyes and antibody specificity releases over the next two years, significantly expanding our life science research reagent portfolio with high-impact products."
"This acquisition is one more example of our pursuit of growth through innovation, in this case investing in a unique technology that enables us to differentiate our life science research reagent portfolio and add value for customers," said William A. Kozy, BD Executive Vice President.
The financial terms of the acquisition were not disclosed. On a GAAP basis, the transaction is expected to be dilutive to FY 2012 earnings per share by approximately $0.01. The Company is maintaining its full year EPS outlook as provided in its third quarter press release.
BD is a leading global medical technology company that develops, manufactures and sells medical devices, instrument systems and reagents. The Company is dedicated to improving people's health throughout the world. BD is focused on improving drug delivery, enhancing the quality and speed of diagnosing infectious diseases and cancers, and advancing research, discovery and production of new drugs and vaccines. BD's capabilities are instrumental in combating many of the world's most pressing diseases. Founded in 1897 and headquartered in Franklin Lakes, New Jersey, BD employs approximately 29,000 associates in more than 50 countries throughout the world. The Company serves healthcare institutions, life science researchers, clinical laboratories, the pharmaceutical industry and the general public. For more information, please visit www.bd.com.
This press release contains certain estimates and other forward-looking statements (as defined under Federal securities laws) regarding the potential impact on BD's life science research reagent portfolio and its results of operations of the acquisition of Sirigen that BD expects to occur or anticipates occurring in the future. All such statements are based upon current expectations of BD and involve a number of business risks and uncertainties. Actual results could vary materially from anticipated results described, implied or projected in any forward-looking statement. With respect to forward-looking statements contained herein, factors that could cause actual results to vary materially from any forward-looking statement include, but are not limited to: the ability to successfully integrate Sirigen's operations and programs with BD's and the time and resources required to do so; difficulties inherent in product development and delays in product introductions; competitive factors, including the development of new technologies by other companies; pricing and market share pressures; increases in energy costs and their effect on, among other things, the cost of producing BD's products; fluctuations in costs and availability of raw materials and in BD's ability to maintain favorable supplier arrangements and relationships; changes in healthcare or other governmental regulation, including changes in government pricing and reimbursement policies or other cost containment reforms; as well as other factors discussed in BD's filings with the Securities and Exchange Commission. We do 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)