Becton Dickinson and Co. closed the divestiture of certain assets to Merit Medical Systems Inc.
The Utah-based medical device supplier bought Becton Dickinson's soft tissue core needle biopsy products and Aspira product line of tunneled home drainage catheters and accessories for $100 million. The acquisition was financed through borrowings under a revolving credit facility.
Merit expects the transaction to be accretive to 2018 earnings, expand operating margins and increase cash flow. The company expects the deal to provide 10 cents to 19 cents in adjusted annualized non-GAAP EPS accretion.
The completion of divestitures satisfies BD's remaining requirements with regulators in the U.S., Europe and China, following their conditional approvals of the company's $24 billion acquisition of C. R. Bard Inc.