US medical equipment company BD (Becton, Dickinson and Co.) (NYSE: BDX) has completed the acquisition of Israeli-based Caesarea Medical Electronics (CME), an infusion pump systems manufacturer. In March 2014, CareFusion Corp., which was acquired by BD in 2015, had acquired a 40% stake in CME. No financial details about the acquisition were disclosed but sources inform "Globes that the deal is being carried out at a company value of $250 million.
CME was founded in 1993 by Swi and Anat Barak who have since managed the company in an extremely low profile manner.
"Our relationship with BD has been very successful over the past two years, and this is the next logical step to elevate our infusion technologies," said Swi Barak, "This transaction will create new opportunities for our people and our technology that we wouldn't have been able to achieve alone."
Sources inform "Globes" that in recent years the company has had annual revenue of at least $50-60 million and close to $20 million profit. The company's current value is close to the value in 2013, when Carefusion invested $100 million for a 40% stake.
The acquisition of CME expands BD's infusion portfolio to include ambulatory, home and specialty acute care infusion pumps. CME designs, manufactures and markets a range of infusion and syringe pumps as well as related accessories and disposable administration sets for both homecare and hospital settings. CME infusion pumps are known for their compact and highly portable design, making them ideal for specialty applications such as IV and epidural anesthesia and pain management, hospital and home nutrition, among others.
"The integration of CME's technology into BD will strengthen our strategy of reinventing medication management across the health care continuum," said Mike Garrison, vice president and general manager of worldwide Infusion Solutions for BD. "The acquisition of CME advances our mission to provide efficient end-to-end IV safety solutions across a broad journey of care."
Published by Globes [online], Israel business news - www.globes-online.com - on April 5, 2017
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