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Becton Dickinson to sell remaining stake in Vyaire Medical for $435M

Becton Dickinson and Co. said March 19 that it is going to sell its remaining stake in Vyaire Medical Inc. to funds managed by Apax Partners LLP for about $435 million in cash.

Apax Partners already owns 50.10% of the privately held healthcare equipment manufacturer, while Becton Dickinson owns the remaining 49.90%, according to S&P Capital IQ data.

Franklin Lakes, N.J.-based medical device-maker Becton said the company expects to record a gain on the transaction.

The company intends to use the proceeds in line with its broader capital allocation strategy. Becton added that the divestiture will have no material impact on its revenue or adjusted earnings for fiscal 2018.

The transaction is expected to close by the end of April, making it Becton Dickinson's second such divestiture this year.

In February, the Utah-based medical device supplier Merit Medical Systems, Inc. bought Becton's soft tissue core needle biopsy products and the Aspira product line of tunneled home drainage catheters and accessories for $100 million.