Becton, Dickinson and Co. (BD) said today that it acquired its partner and key supplier in developing the BD Veritor™ System, privately held Alverix, in a $40 million deal designed to grow BD’s presence in point-of-care diagnostics.
"Point-of-care testing is increasingly an integral part of patient healthcare in both developed and developing countries, and BD is committed to expanding in this space," said William A. Kozy, BD’s COO and EVP. "This acquisition enables BD to continue to strengthen and grow our point-of-care testing position."
BD Veritor is designed to provide healthcare providers with objective interpretations of diagnostic results within approximately 10 minutes, by integrating advanced particle and adaptive read technology with a compact reader.
Under the previous development agreement with Alverix, the companies worked to develop and launch the BD Veritor System for rapid detection of Flu A+B, as well as group A strep, adenovirus, and respiratory syncytial virus (RSV) in clinical laboratories and in physicians' offices.
BD selected Alverix to design, develop, and supply the digital reader component of BD Veritor. In 2012, BD Diagnostics won 510(k) clearance from the FDA for nasopharyngeal wash, aspirate, and swab in transport media specimens on BD Veritor System for both RSV and Flu A+B.
Headquartered in San Jose, Alverix has collaborated with BD in developing BD Veritor since 2008.
BD said the deal will not impact BD's previously disclosed 2014 earnings guidance to investors of between $6.16 and $6.22 per share in reported diluted earnings per share from continuing operations for the full fiscal year 2014, up 6–7% over 2013 adjusted diluted earnings per share of $5.81.