Becton, Dickinson and Co. reached an agreement with the U.S. Securities and Exchange Commission (SEC) to resolve an investigation related to allegations that the company misled investors regarding the Alaris infusion system, which BD added to its portfolio with the $12.2 billion acquisition of Carefusion in 2015. BD will pay a $175 million civil penalty and agreed to a cease and desist order for the device.
Third-party litigation funding has been a source of controversy in the U.S. over the past decade, but the practice drew little national scrutiny up to now.
Edwards Lifesciences Corp. said it has exercised its option to buy Innovalve Bio Medical Ltd., an early stage transcatheter mitral valve replacemen company, for $300 million in cash following its initial investment in 2017. Since that time, Edwards said Innovalve has demonstrated progress in its program with promising early clinical experience.
Edwards Lifesciences Corp. is selling its critical care product group to Becton Dickison and Co. (BD) for $4.2 billion in cash, forgoing its previously announced plans to spin off the unit into a separate business. The transaction is expected to close before the end of the calendar year.
Olympus Corp., of Center Valley, Pa., reported Nov. 9 a voluntary field corrective action for bronchoscopes prompted by complaints of endobronchial combustion during procedures that involve the use of high-frequency (HF) therapy equipment.
Day Zero Diagnostics Inc. added more of the right kind of zeros to its coffers as it closed a $16 million financing round supported by existing investors. Venture capital investment in the diagnostics company to date totals $49 million, with more than $18 million in additional non-dilutive funding. The company is developing a diagnostic that provides same-day identification of an infectious pathogen and its antimicrobial susceptibility profile.
Babson Diagnostics Inc. has line of sight for the commercial launch of its Betterway blood testing ecosystem, which is a less invasive way of taking blood and requires only one-tenth of the sample volume of venipuncture without sacrificing quality or accuracy. The company said that once the collection device developed in partnership with Becton Dickinson & Co. (BD) is cleared by the U.S. FDA, Betterway will be launched in Texas, where it already has established partnerships with retailers and where its commercial lab is up and running. In addition, Babson has fully validated a broad set of miniaturized assays that are ready for commercial processing in its CLIA-certified, CAP accredited laboratory.
A more than three-year commercial hold built up an estimated $1 billion in demand for Becton, Dickinson and Co.’s (BD) Alaris infusion system and BD has every intention of meeting that demand as quickly as possible now that it has FDA clearance for the updated device. The clearance allows the company to resume commercial sales and undertake remediation of its installed base of point-of-care units with enhanced features for its pumps and monitoring systems as well as new software and upgraded cybersecurity and interoperability.
Becton, Dickinson and Co. (BD) agreed to sell its Surgical Instrumentation platform to Steris plc for $540 million in keeping with the company’s corporate strategy to simplify its product portfolio by 2025. The divestiture includes the V. Mueller, Snowden-Pencer and Genesis products as well as three dedicated manufacturing facilities. Steris will also pick up about 360 employees with the platform. The companies expect the all-cash transaction to close by Sept. 30, 2023, pending regulatory approval.
Becton, Dickinson and Co. (BD) tackled the persistent issue of missed vessels for intravenous (IV) placement with the goal of enabling hospitalized patients to have a ‘one-stick stay.’ The Prevue II system uses the BD Cue needle tracking-enabled system, which offers a high-quality ultrasound image of the needle trajectory in conjunction with real-time needle depth markers.
