BD Announces Agreement to Acquire GeneOhm for $230 Million
Positions BD to be a worldwide leader in prevention of healthcare-associated infections BD (Becton, Dickinson and Company) has announced that it has signed an agreement to acquire GeneOhm Sciences, Inc., a privately held company headquartered in San Diego, California that has pioneered the development of molecular diagnostic testing for the rapid detection of bacterial organisms, including those known to cause healthcare-associated infections (HAIs).
GeneOhm Sciences had 2005 revenues of approximately $5 million and provides BD with expanded entry into the emerging HAI market.
Today, nearly 6 million HAIs occur annually across the U.S., Europe and Japan, and are implicated in up to an estimated 90,000 deaths per year in the U.S. alone[ref 1]. Many publications have suggested that the use of active surveillance and associated diagnostics could substantially reduce the prevalence of HAIs.
BD has agreed to pay $230 million, plus up to $25 million in additional incentives, for the company. The acquisition is subject to regulatory approvals and is expected to close by the end of March 2006. The transaction is slightly dilutive; however, BD reaffirms its previous guidance that reported diluted earnings per share from continuing operations for fiscal year 2006 are expected to be in the range of $3.15 to $3.19. BD will provide further details around this guidance during its first quarter earnings call on January 26, 2006.
GeneOhm Sciences is developing nucleic acid-based assay systems providing rapid results to help transform patient care. Its IDI-MRSA™ and IDI-Strep B™ tests are FDA cleared and provide an innovative, extremely accurate, and rapid format for these critical tests. MRSA (methicillin resistant Staphylococcus aureus) is a “super bug” known to cause HAIs, and Group B Strep is a health threat to pregnant women and their children during the latter stages of pregnancy.
Reference:
1. Centers for Disease Control, and other sources |
