BD Announces Agreement to Acquire GeneOhm Sciences, Inc.
BD (Becton, Dickinson and Company) announced that it has signed an agreement to acquire GeneOhm Sciences, Inc. GeneOhm Sciences had 2005 revenues of approximately $5 million and provides BD with expanded entry into the emerging HAI (healthcare-associated infections) market. Today, nearly 6 million HAIs occur annually across the U.S., Europe and Japan. 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.
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