BD to sell Surgical Instrumentation platform to STERIS for $540M

Franklin Lakes-based BD, also known as Becton, Dickinson and Co., on Tuesday said it plans to sell its Surgical Instrumentation platform to STERIS for $540 million.

The divestiture will include V. Mueller, Snowden-Pencer and Genesis branded products and three manufacturing facilities located in St. Louis, Cleveland and Tuttlingen, Germany.

Approximately 360 employees who support this platform will transfer to STERIS upon the completion of the transaction.

The divestiture is expected to close by the end of September.

STERIS is a global provider of products and services that support patient care with an emphasis on infection prevention, with global sales of $5 billion. BD’s surgical instrumentation platform is complementary to STERIS’ health care segment and will allow it to better meet hospitals’ and surgery centers’ product and service needs.

“The Surgical Instrumentation platform has a 120-year legacy of providing reliable and trusted high-quality products, and STERIS is well-positioned to maximize the value of this extensive portfolio and is fortunate to be adding such a dedicated and talented team to its organization,” Rick Byrd, president of the Interventional segment at BD, said. “This transaction further advances the BD Interventional segment’s focus on high-growth end markets. We look forward to continuing to address unmet needs in health care through a highly differentiated and innovative set of solutions and products.”

Ropes and Gray LLP was legal adviser for BD.