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MarketScreener Homepage  >  Equities  >  Nyse  >  Becton, Dickinson and Company    BDX

BECTON, DICKINSON AND COMPANY

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Becton Dickinson and : BD - Babson Diagnostics Announce Strategic Partnership Agreement to Enable Small-Volume Blood Collection for Diagnostic Testing in Retail Settings

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02/13/2020 | 07:05am EDT

BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company and Babson Diagnostics, a transformative diagnostic blood testing company, today announced a long-term strategic partnership agreement to bring laboratory-quality, small-volume blood collection to retail pharmacies.

The partnership reflects emerging health care trends toward faster, less expensive laboratory testing in customer-friendly health care settings with more convenient hours and locations, as well as rapid growth in the diagnostic testing market. The partnership builds on a collaboration between the two companies dating back to 2017. Its goal is to enable retail pharmacies to offer laboratory-quality diagnostic testing through Babson Diagnostics' service by combining BD's innovative capillary blood collection device in development with Babson Diagnostics' proprietary automated sample handling and analytical technologies, which are also in development.

BD's new capillary specimen collection device in development is designed to enable the collection of laboratory-quality specimens without the need to access a vein. Drawing from more than 70 years of specimen management success with BD Vacutainer devices, the small-volume blood collection devices being developed by BD will be designed for health care settings without a trained phlebotomist, such as retail pharmacies, physician offices, urgent care centers and skilled nursing facilities.

'BD has been a leader in blood collection technology with a long history of global innovation,' said Eric Olson, chief executive officer of Babson Diagnostics. 'The technology they are developing is critical to Babson's mission of making diagnostic blood testing more convenient and accessible without sacrificing accuracy or cost. Combining this technology with our own will allow us to bring diagnostic blood testing to retail pharmacies, making it easier for people to gain control over and improve their health.'

Babson Diagnostics' diagnostic blood testing model is designed to allow customers to get physician-ordered or self-ordered diagnostic blood tests at convenient retail pharmacies. In such a setting, customers can avoid long wait times and may benefit from longer hours of operation, low out-of-pocket costs, and a more pleasant blood collection experience.

'Patient expectations for health care are evolving, and patients are demanding care in more convenient settings. With our specimen management innovations, we hope to revolutionize diagnostic testing to meet patient expectations with laboratory-quality tests that can be performed with small blood samples that do not require venipuncture,' said Patrick Kaltenbach, executive vice president and president, life sciences at BD. 'Babson Diagnostics will help bring BD's advanced capillary blood collection products to emerging health care settings, making laboratory-quality diagnostics more accessible to patients in the U.S. and around the world.'

Babson Diagnostics and BD are undertaking clinical studies on these devices in retail pharmacy settings. BD plans to prepare regulatory submissions to the U.S. Food and Drug Administration and other global regulatory bodies upon completion of these clinical studies.

About BD

BD is one of the largest global medical technology companies in the world and is advancing the world of health by improving medical discovery, diagnostics and the delivery of care. The company supports the heroes on the frontlines of healthcare by developing innovative technology, services and solutions that help advance both clinical therapy for patients and clinical process for healthcare providers. BD and its 65,000 employees have a passion and commitment to help enhance the safety and efficiency of clinicians' care delivery process, enable laboratory scientists to accurately detect disease and advance researchers' capabilities to develop the next generation of diagnostics and therapeutics. BD has a presence in virtually every country and partners with organizations around the world to address some of the most challenging global health issues. By working in close collaboration with customers, BD can help enhance outcomes, lower costs, increase efficiencies, improve safety and expand access to healthcare.

About Babson Diagnostics

Babson Diagnostics aims to bring diagnostic blood testing to the retail pharmacy counter, making it easier, faster, and more pleasant for customers to routinely monitor and improve their health. Babson's proprietary technological ecosystem is designed to deliver accurate diagnostic results with a more human experience. Based in Austin, Texas, its vision for diagnostic blood testing-built on accuracy, convenience, and accessibility-combines transformative diagnostic technology with a customer-first, retail-centric business model that aims to improve customer health and experience.

Contact:

Tel: 512.917.4319

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2020 17 659 M
EBIT 2020 4 529 M
Net income 2020 2 085 M
Debt 2020 16 573 M
Yield 2020 1,60%
P/E ratio 2020 25,9x
P/E ratio 2021 20,0x
EV / Sales2020 4,26x
EV / Sales2021 3,90x
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William R. Sigmund Chief Medical Officer & EVP
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