Devices & Diagnostics

Becton Dickinson enhances point-of-care testing business with $40M acquisition

Medical technology manufacturer Becton Dickinson (NYSE: BDX) has acquired a collaboration partner that produces handheld, […]

Medical technology manufacturer Becton Dickinson (NYSE: BDX) has acquired a collaboration partner that produces handheld, electronic diagnostic devices. They are designed to be used at the point of care in places like physician offices, retail clinics and patient homes.

The $40 million deal to take over San Jose healthcare technology company Alverix will help it strengthen its position in the point-of-care diagnostics sector, according to a company statement.

BD has collaborated with Alverix since 2008 on BD’s diagnostic platform, Veritor System, to diagnose respiratory illnesses including Flu A+B, Group A Strep, Adenovirus, and Respiratory Syncytial Virus.

William Kozy, BD COO, said: “Point-of-care testing is increasingly an integral part of patient healthcare in both developed and developing countries and BD is committed to expanding in this space.”

In 2012, the point-of-care diagnostic testing market was projected to grow to $16.5 billion by 2016.

Alverix’s investors include Safeguard and New Venture Partners. Safeguard has a 49 percent stake in the company, giving the venture investor its third exit in two months. In December, manufacturing software company PTC acquired machine to machine learning technology company ThingWorx as part of a $112 million deal. Endo Health Solutions acquired specialty pharmaceutical company NuPathe for $105 million.

[Photo Credit: digitalart ]

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