Medical technology company Becton, Dickinson and Co. plans to shell out more than $1.5 billion in cash for Parata Systems, an organization with a $600 million stake in the pharmacy automation market.
"Through the use of automation and advanced software, pharmacists can focus more of their time on higher value clinical work and patient interactions to help improve medication adherence, medication safety and patient outcomes," the June 6 statement said.
Three things to know about the deal:
1. Parata specializes in "medication adherence packaging, high-speed robotic dispensing technologies and pharmacy workflow solutions," according to the press release.
2. A private equity firm in the healthcare sector, Frazier Healthcare Partners, is the current owner of Parata.
3. The companies expect the transaction to finalize at the end of the first half of BD's fiscal year 2023.