Becton, Dickinson and Co. announced Monday it entered into an agreement to purchase Parata Systems from Frazier Healthcare Partners. The all-cash transaction worth $1.525 billion is expected to close in the first half of BD’s 2023 fiscal year.
Headquartered in Franklin Lakes, BD said the deal will give the company access to a $600 million pharmacy automation technology and software market as a means to enable pharmacists to focus more on clinical work and patient interactions.
“Parata expands BD’s solutions to a new area of the high-growth pharmacy automation space and is a prime example of BD executing our disciplined M&A strategy,” Tom Polen, chairman, CEO and president of Becton Dickinson, said. “Parata has a highly attractive financial profile and compelling value proposition that meets all of our rigorous investment criteria on growth, profitability and returns.”
Health care-focused Frazier, which has raised more than $7.1 billion in total capital since its inception in 1991, acquired Parata in 2018.