BD to separate biosciences and diagnostic solutions business to enhance focus, drive growth

By
Linda Lindner
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BD announced its board of directors has unanimously authorized BD management to pursue a plan to separate BD’s Biosciences and Diagnostic Solutions business from the rest of BD to enhance strategic focus and growth-oriented investments and capital allocation for both BD and the separated business and enhance value creation for shareholders.

Becton Dickinson on Wednesday announced plans to split from its bioscience and diagnostic solutions arms to become more focused company. The news was announced alongside The Franklin Lakes-based firm’s Q1 FY25 earnings released after the markets closed.

The new BD will comprise four distinct segments namely, Medical Essentials, Connected Care, BioPharma Systems and Interventional. Following the separation, the New BD is expected to have revenue of $17.8 billion for Fiscal 2024, while the separated Bioscience and Diagnostic Solutions business would have proforma revenue of $3.4 billion. The proposed separation is expected to be completed in 2026.

“Our BD 2025 strategy has transformed the company into a faster-growing, more profitable organization positioned at the forefront of long-term growth trends in health care, and we believe today’s announcement is an exciting next step in unlocking significant potential value for all our stakeholders,” Tom Polen, chairman, CEO and president of BD said.