Medical technology company Becton, Dickinson and Co. plans to sell its surgical instrumentation platform to Steris, a medical device company, for $540 million.
The divestiture will include V. Mueller-, Snowden-Pencer- and Genesis-branded products in addition to three manufacturing facilities in St. Louis, Cleveland and Tuttlingen, Germany. The assets included in the transaction account for annualized revenue of about $170 million, according to a June 20 news release from BD.
The deal is expected to close within BD's fiscal year 2023, which ends Sept. 30.
About 360 BD employees will transfer to Steris after the transaction, the release said.