Becton, Dickinson and Company (BD) has agreed to acquire US medical technology firm C. R. Bard for around $24bn.

Based in Murray Hill of New Jersey, Bard develops, produces and markets medical technologies in the fields of vascular, urology, oncology and surgical specialties.

Under the deal, BD will acquire Bard by paying $317.00 per common share in cash and stock.

The combined company will offer end-to-end medication management solutions across the care continuum, helping to provide more product solutions for healthcare associated infections (HAIs).

It will now provide comprehensive and clinically relevant products for surgical site infections (SSIs) and catheter-related blood stream infections (CRBSIs).

The acquisition of Bard will also enable BD to offer solutions for peripheral vascular disease, urology, hernia and cancer, in addition to diabetes.

With $1bn annual revenue in China, the combined company can expand its operations in emerging markets.

Subject to regulatory and Bard shareholder approvals and customary closing conditions, the deal is expected to complete in the fall of this year.

BD chairman and CEO Vince Forlenza said: “Combining with Bard will accelerate our ability to offer more comprehensive, clinically relevant solutions to customers and patients around the globe, creating a strong partner for healthcare providers who are increasingly focused on delivering better outcomes at a lower total cost.”

Bard chairman and CEO Tim Ring said: “We are confident that this combination will deliver meaningful benefits for customers and patients as we see opportunities to leverage BD’s leadership, especially in medication management and infection prevention.”

In May 2015, BD acquired CareFusion for around $12.2bn, which produces Alaris infusion pumps and IV sets, MaxPlus and MaxZero IV connectors and sets, Pyxis automated dispensing and patient identification systems.

The firm also produces AVEA, LTV series and AirLife ventilation and respiratory products, ChloraPrep products, MedMined services for data mining surveillance, V. Mueller surgical instruments, in addition to products that support interventional medicine.

Image: BD to acquire US firm C. R. Bard. Photo: courtesy of PinkBlue / FreeDigitalPhotos.net.