By Colin Kellaher
Becton Dickinson & Co. on Monday said it agreed to buy Parata Systems, a provider of pharmacy automation solutions, from private-equity firm Frazier Healthcare Partners, for about $1.53 billion.
Franklin Lakes, N.J., medical-technology company Becton Dickinson said the deal, which it expects to complete by the end of March 2023, expands its portfolio to a new area of the high-growth pharmacy automation space.
Becton Dickinson said Parata, which generated revenue of about $220 million for the 12 months ended March 31, offers solutions to pharmacies to reduce costs, enhance patient safety and improve the patient experience.
Healthcare-focused Frazier, which has raised more than $7.1 billion in total capital since its inception in 1991, acquired Parata in 2018.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
06-06-22 0822ET