BD and Apax join to create new, independent company

Becton, Dickinson and Company (BD) is selling 50.1% of its Respiratory Solutions business to Apax Partners as part of a joint venture that will operate as a new, independent company

As part of the deal BD will retain 49.9% of the company as a significant but non-controlling minority owner.

The new company will include all business lines within BD’s Respiratory Solutions business including ventilation, respiratory diagnostics, vital signs and AirLife. 

Acccording to BCS the transaction values the entire business today at nearly $500 million and has an estimated annual revenue of approximately $900 million.  

Bonifacio Consulting Services (BCS) was part of the advisory team for Apax Partners. Mark Bonifacio, President BCS, said: “The deep domain expertise of our team at BCS, working alongside APAX and its other diligence team members allowed us to provide actionable insight into this multi-plant global operation, while also providing specific areas for future value capture as the business moves forward as a new standalone entity.”