BD Statement On MOFCOM Clearance Of Bard Acquisition

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Dec 28, 2017, 05:54 ET

FRANKLIN LAKES, N.J., Dec. 28, 2017 /PRNewswire/ -- BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, issued the following statement regarding today's clearance by the Ministry of Commerce of the People's Republic of China (MOFCOM) for BD to acquire C. R. Bard (NYSE: BCR), contingent on BD divesting its soft tissue core needle biopsy product line:

"MOFCOM clearance was the final regulatory approval needed to complete the Bard acquisition," said Vincent A. Forlenza, chairman and CEO of BD. "We look forward to closing the transaction and welcoming Bard's products and associates to the BD family."

The proposed acquisition remains subject to the satisfaction of customary closing conditions. BD and Bard currently expect the proposed acquisition to close on Friday, Dec. 29.

Separately, BD's proposed divestiture of its soft tissue core needle biopsy product line to Merit Medical is conditioned on MOFCOM approval of Merit as the purchaser.

About BD
BD is a global medical technology company that is advancing the world of health by improving medical discovery, diagnostics and the delivery of care. BD leads in patient and health care worker safety and the technologies that enable medical research and clinical laboratories. The company provides innovative solutions that help advance medical research and genomics, enhance the diagnosis of infectious disease and cancer, improve medication management, promote infection prevention, equip surgical and interventional procedures, and support the management of diabetes. The company partners with organizations around the world to address some of the most challenging global health issues. BD has nearly 50,000 associates across 50 countries who work in close collaboration with customers and partners to help enhance outcomes, lower health care delivery costs, increase efficiencies, improve health care safety and expand access to health. For more information on BD, please visit bd.com.

FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, related to the pending acquisition of Bard by BD that involves substantial risks and uncertainties. These statements are based on the current expectations of BD management, and these statements speak only as of the date of this document. BD undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date hereof, except as required by applicable laws or regulations.