Healthcare Industry News: BD
News Release - July 27, 2011
BD (Becton, Dickinson and Company) Agrees to Acquire Carmel PharmaGÖTEBORG, Sweden--(Healthcare Sales & Marketing Network)-- The majority shareholders of Carmel Pharma AB ("Carmel") have entered into an agreement with BD (Becton, Dickinson and Company) to sell approximately 95% of the ordinary share capital for an undisclosed amount paid in cash. BD has informed Carmel that it intends to make an offer to acquire all remaining outstanding shares in Carmel at the same price offered to the majority shareholders.
Carmel is a worldwide leader in closed drug transfer systems for handling medications. Carmel’s proprietary PhaSeal system, considered to be the gold standard in safe handling, is a unique safety solution designed to protect health care workers, patients, the drug and the hospital’s P&L.
PhaSeal’s double-membrane technology and a unique pressure-equalizing function ensures an air tight, leak proof solution throughout the entire preparation, administration and waste disposal chain.
BD is a leading global medical technology company listed on the New York Stock Exchange (NYSE:BDX ) with a market capitalisation of approximately US$ 18.6bn.
Carmel’s selling majority shareholders include Investor Growth Capital, Priveq Investment, Stiftelsen Industrifonden, Start Invest and Carmel employees.
“Carmel Pharma has achieved excellent growth over the last five years, driven by an exceptional product, a first class team of employees and very supportive shareholders.” Dan Pitulia, CEO of Carmel, said.
“I believe BD will be an excellent owner and it has all the capabilities to accelerate Carmel Pharma’s next phase of growth. We will benefit hugely from BD’s access to new customers and from the fact that PhaSeal is complementary to BD’s existing product range.”
Per Carendi, Chairman of Carmel commented: "BD is a leading medical technology company with a strong and well established presence in the global healthcare market. The board believes that the transaction represents an excellent deal for Carmel's shareholders and reflects the strong strategic rationale of integrating our business with BD. The board therefore recommends the transaction."
Jefferies International acted as exclusive financial adviser to Carmel and its majority shareholders. Gernandt & Danielsson served as legal adviser to the company and the selling shareholders.
Carmel Pharma AB, headquartered in Gothenburg, Sweden, is the manufacturer of the PhaSeal System for the safe handling of hazardous drugs. In the United States, PhaSeal is distributed by an U.S. affiliate office, Carmel Pharma, Inc., located in Columbus, OH. The PhaSeal System has been in use in the U.S. since 1999 and implemented in more than 2000 cancer facilities, infusion centers and private practices, including M.D. Anderson and Texas Children’s in Houston, TX; City of Hope in Duarte, CA; Dana Farber Cancer Institute in Boston, MA; Vanderbilt University Medical Center in Nashville, TN; and Johns Hopkins University in Baltimore, MD, just to name a few. For more information on Carmel Pharma or the PhaSeal System, please visit www.phaseal.com or email firstname.lastname@example.org.
Source: Carmel Pharma
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