Waltham, Mass.-based Thermo Fisher Scientific Inc. is acquiring Becton Dickinson and Co.'s advanced bioprocessing business.
Becton Dickinson's advanced bioprocessing business aids biopharmaceutical with drug manufacturing. The unit has an annualized revenue of about $100 million.
Financial terms of the deal were not disclosed.
Thermo Fisher COO Mark Stevenson, in a news release, said the acquisition will "complement our bioproduction offering and strengthen our ability to serve this rapidly growing market, from development to large-scale production."
Further, Franklin Lakes, N.J.-based medical device maker Becton Dickinson said the deal will result in greater focus on the company's life sciences segment.
The deal is expected to close in early 2019, subject to closing conditions. Thermo Fisher will integrate the business into its life sciences solutions segment once the transaction closes.
For fiscal 2018, Becton Dickinson expects EPS contribution from the advanced bioprocessing business of about 13 to 15 cents on a full year basis.