Becton Dickinson to Buy GeneOhm Sciences
Becton Dickinson to Buy GeneOhm Sciences
Tuesday January 10, 8:38 am ET
Becton Dickinson to Buy GeneOhm Sciences for $230 Million Plus Incentives
FRANKLIN LAKES, N.J. (AP) -- Becton, Dickinson and Co. said Tuesday that it will buy privately held GeneOhm Sciences Inc. for $230 million plus incentives.
The transaction includes up to $25 million in additional incentives for the San Diego, Calif.-based maker of healthcare-associated infection tests. The company booked about $5 million in revenue in 2005, and will expand Becton's presence into the healthcare-associated infection market.
Becton said it expects the transaction to lower profit slightly but affirmed its fiscal 2006 earnings per share outlook from continuing operations range of $3.15 to $3.19. Analysts surveyed by Thomson Financial expect earnings per share of $3.19.
The company expects the deal to close by the end of March.
Healthcare-associated infections account for nearly 6 million illnesses annually in the United States, Europe and Japan, and cause up to 90,000 deaths in the United States per year.
Comments
Dual MBAs: $120K
Sell your company: $230MM
Courtside seats next to Jack Nicholson: $1MM?
Getting married: Priceless
Congratulations on the many accomplishments!
Posted by: Jamie | January 10, 2006 11:13 AM
Next round's on Holmlin.
Io Triumphe!
Posted by: Jon Tuttle | January 10, 2006 02:04 PM
Well done, dude! On one hand, it may feel like selling one's child into servitude, but on the other hand...
Nicely done! :)
Posted by: Kenneth | January 10, 2006 05:13 PM
I am SO proud of you Erik - those long hours are definitely paying off! Looking forward to the celebration party!! And the Laker seats...
Posted by: Emily | January 10, 2006 08:06 PM
Thanks for the kind words everyone....Lakers seats will definitely be high on my list...sleep comes first!!!
Posted by: Erik | January 13, 2006 01:17 AM