Sam Brusco, Associate Editor06.06.22
BD (Becton, Dickinson and Company) has begun a deal to acquire pharmacy automation solutions firm Parata Systems for $1.52 billion.
Parata’s portfolio powers pharmacy networks to reduce costs, enhance patient safety, and improve experience via intelligent workflow solutions. Automation and enhanced software can help pharmacists focus more time on higher value clinical work and patient interactions.
The transaction complements BD’s medication management solutions business with a new set of technologies to deploy across acute care health systems, retail pharmacies, long-term care, and home settings.
Parata generated about $220 million in revenue over the last 12-month period (ended March 31, 2022).
"Parata expands BD's solutions to a new area of the high-growth pharmacy automation space and is a prime example of BD executing our disciplined M&A strategy," Tom Polen, chairman, CEO, and president of BD told the press. "Parata has a highly attractive financial profile and compelling value proposition that meets all of our rigorous investment criteria on growth, profitability and returns. With the addition of Parata, BD further advances our 2025 growth strategy around smart, connected care and enabling new care settings. We look forward to welcoming the talented Parata team to BD."
Rob Kill, CEO of Parata added, "BD and Parata share a common purpose with closely aligned cultures. We are very proud of the company the team has built at Parata over the past 21 years and feel BD is a great home for our company, innovative solutions and technology, and Parata's team members. The combination with BD will further advance our purpose of powering pharmacies to help people lead healthier lives."
The transaction is expected to close by the end of the first half of BD’s fiscal year 2023.
Parata’s portfolio powers pharmacy networks to reduce costs, enhance patient safety, and improve experience via intelligent workflow solutions. Automation and enhanced software can help pharmacists focus more time on higher value clinical work and patient interactions.
The transaction complements BD’s medication management solutions business with a new set of technologies to deploy across acute care health systems, retail pharmacies, long-term care, and home settings.
Parata generated about $220 million in revenue over the last 12-month period (ended March 31, 2022).
"Parata expands BD's solutions to a new area of the high-growth pharmacy automation space and is a prime example of BD executing our disciplined M&A strategy," Tom Polen, chairman, CEO, and president of BD told the press. "Parata has a highly attractive financial profile and compelling value proposition that meets all of our rigorous investment criteria on growth, profitability and returns. With the addition of Parata, BD further advances our 2025 growth strategy around smart, connected care and enabling new care settings. We look forward to welcoming the talented Parata team to BD."
Rob Kill, CEO of Parata added, "BD and Parata share a common purpose with closely aligned cultures. We are very proud of the company the team has built at Parata over the past 21 years and feel BD is a great home for our company, innovative solutions and technology, and Parata's team members. The combination with BD will further advance our purpose of powering pharmacies to help people lead healthier lives."
The transaction is expected to close by the end of the first half of BD’s fiscal year 2023.