BD, CR Bard Merger To Create Vascular Access Device Giant
Becton Dickinson has reached a definitive agreement to acquire CR Bard for $24bn. BD says Bard's product portfolio gives it a strong presence in fast-growing clinical areas and more reach outside the US while Bard expects to reach more customers by building on BD's leadership in medication management and infection prevention.
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Polen led BD’s $24bn acquisition of Bard in 2017 and the $12bn acquisition of CareFusion in 2015. Forlenza has been with BD for almost 40 years, including eight as CEO.
CR Bard has lost the first transvaginal mesh case to be tried in New Jersey, but there are another 150 to go in the state. A Bergen County jury awarded $33m in compensatory damages and $35m in punitive damages to a woman who says she's experienced chronic pain and other complications since receiving two of the company's transvaginal mesh products in 2009.
2017 proved to be a busy year for medtech M&A activity, with the number of deals rising from 174 in 2016, to 206 in 2017. The year also brought a number of notable acquisitions, including Becton Dickinson's blockbuster $24bn purchase of CR Bard and Dutch health-care giant Philips undertaking an ambitious acquisition spree. Medtech Insight takes a look at the highlights of 2017 and what's in store for 2018.