BD (Becton, Dickinson and Company), a global medical technology company, has signed a definitive agreement to divest its remaining, minority stake in Vyaire Medical to funds managed by Apax Partners.
According to the terms of the agreement, BD will receive $435 million in cash for its remaining ownership of Vyaire Medical. The transaction is expected to close by the end of April, subject to customary closing conditions. The company expects to record a gain on the transaction at the time of closing. BD intends to use the proceeds in line with its broader capital allocation strategy. The divestiture will not have a material impact to BD revenue or adjusted earnings for fiscal 2018.