Newspaper article The Record (Bergen County, NJ)

BD Respiratory Business Will Be Spun Off

Newspaper article The Record (Bergen County, NJ)

BD Respiratory Business Will Be Spun Off

Article excerpt

Becton, Dickinson and Co. of Franklin Lakes, the medical technology giant, is spinning off its Respiratory Solutions business into a joint venture with the private equity firm Apax Partners of London.

The transaction is not expected to affect any of BD's New Jersey employees, according to a company spokesman.

Under the deal, announced this week, BD will sell 50.1 percent of the respiratory business to create a new, independent company. The new company will include the ventilation, respiratory diagnostics and other respiratory business lines, and is expected to have annual revenues of about $900 million. The transaction values the business at $500 million, but no sale price was disclosed. The new company will employ more than 5,000 workers around the world. BD will retain 49. …

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