BD announces $24bn takeover of Bard

BD has announced that it will be acquiring CR Bard, a medical technology leader in the fields of vascular, urology, oncology and surgical specialty products.

The $24 billion (18.71 billion pounds) deal will create a highly differentiated medical technology company, building on BD's existing leadership position in medication management and infection prevention.

Bard's strong product portfolio and innovation pipeline is also expected to increase BD's opportunities in several fast-growing clinical areas, particularly in terms of non-US markets.

A designated integration team comprised of senior members of both organisations will oversee the merger process, with Tim Ring – chairman and chief executive of Bard – and an additional Bard director expected to join the BD board of directors.

BD will create a third segment within the company called BD Interventional when the deal closes this autumn.

Vince Forlenza, BD's chairman and chief executive officer, said: "I am excited to welcome Bard's talented employees to our strong and dedicated team as we bring together two companies with such complementary capabilities, values and strong reputations for delivering superior results."

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