Waters, BD’s Biosciences & Diagnostic Solutions to Merge
Waters Corporation, a provider of analytical instruments and software for medical, food, and environmental markets, and BD (Becton, Dickinson and Company) have entered into a definitive agreement to combine BD’s Biosciences & Diagnostic Solutions business with Waters. The deal is valued at approximately $17.5 billion.
BD Biosciences & Diagnostic Solutions addresses immunology, cancer research, microbiology, and clinical and infectious disease diagnostics. The deal brings together complementary technologies, with the combined company offering flow cytometry, diagnostics solutions, and additional capabilities expected to double Waters’ total addressable market to ~$40 million.
Upon closing of the transaction, Udit Batra, Waters president and CEO, will lead the new entity, and Amol Chaubal will serve as senior vice president and CFO. Executives from both companies will serve in key leadership roles to be announced at a later date. Up to two BD designees will join the Waters board of directors upon closing.
The combined company will continue to operate under the Waters name and retain its listing on the New York Stock Exchange under the ticker symbol "WAT." Waters' headquarters will remain in Milford, Mass. According to a press release, the combined company will maintain a significant presence where the BD Biosciences & Diagnostic Solutions business currently operates.
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