BD Sold Respiratory Business to Apax Partners

BD (Becton, Dickinson and Company) sold her Respiratory Solutions business to Apax Partners, with the latter as the majority owner of new Company.

BD announced in a press release, that --

‘BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today announced a definitive agreement to sell 50.1 percent of its Respiratory Solutions business to funds advised by Apax Partners, a leading global private equity firm, and form a joint venture that will operate as a new, independent Company.

The new company will include all business lines within BD’s Respiratory Solutions business including Ventilation, Respiratory Diagnostics, Vital Signs and AirLife, and have estimated annual revenue of approximately $900 million. BD’s Respiratory Solutions facilities will transfer to the new company, including locations in Yorba Linda, Calif.; Palm Springs, Calif.; Plymouth, Minn.; Mexicali, Mexico; Cotia, Brazil; Hoechberg, Germany and Shenzen, China. The new company will employ more than 5,000 associates around the world. BD will retain 49.9 percent of the company as a significant but non-controlling minority owner.

The completion of the transaction is subject to pending regulatory approval, consultations with employee representative bodies in Europe and customary closing conditions.'

The press release can be found from BD Website by clicking this link.