BD agrees acquisition of optoelectronics specialist Alverix

BD has agreed a deal to acquire the California-based diagnostic instrument company Alverix for $40 million (24.33 million pounds).

Alverix is a long-standing collaborative partner of BD and is known for its expertise in the optoelectronics field. The firm is a key supplier to BD Diagnostics' point-of-care instrument platform. 

Since 2008, the companies have collaborated on the design and development of the BD Veritor System, which has been received positively by hospitals, laboratories, physician offices and clinics alike.

The acquisition of Alverix will allow BD to continue to strengthen its position in the important point-of-care testing market.

William Kozy, the firm's chief operating officer and executive vice-president, 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."

This marks the company's first major takeover since the purchase of Cato Software Solutions in March 2013.