BD (Becton, Dickinson and Company) has announced an agreement to sell 50.1% of its Respiratory Solutions business to funds advised by Apax Partners, a leading global private equity firm, and form a joint venture that will operate as a new, independent company.
The new company will include all business lines within BD's Respiratory Solutions business including Ventilation, Respiratory Diagnostics, Vital Signs and AirLife, and have estimated annual revenue of approximately $900 million. The new company will employ more than 5,000 associates around the world. BD will retain 49.9% of the company as a significant but non-controlling minority owner.
