BD hunting "plug in" acquisitions

By Natalie Morrison

- Last updated on GMT

Related tags: Firm, Mergers and acquisitions, Due diligence

Drug delivery device firm BD looking for acquisitions
BD is on the lookout for more acquisitions with firms it can easily “plug in” to its business.

The delivery technology company has recently made a string of takeover deals, including Netherlands-based microbiology lab equipment firm Kiestra Lab Automation BV, and most recently of Safety Syringes which produces devices for pre-filled needles.

Now, speaking on an investor conference call about the firm’s Q3 results, CEO Vince Forlenza says the firm will look to more deals in the same vein in the coming quarters.

“In terms of the size of the deals we’re still focused on plug in acquisitions,”​ he said.

He added that recent additions to BD’s corporate development group are helping to advance deals that are currently in the pipeline.

“I think we’re making very good progress standardising evaluation process,”​ he said of executing deals.

“Our due diligence processes and integration process is where we’re making the most progress. We’re starting to see good progress on those recent acquisitons that we’ve done.”

He also said the firm will now begin to extend the corporate development group – that though small works directly with the acquired firms – to work internationally, adding “we continue to have a good pipeline.”

Strengths and weaknesses

Of the type of acquisition BD plans to make, the firm remained quite conservative.

However Forlenzo did say that the earnings growth seen in Q3 – up 1.5 per cent to $198.1m - is driven by BD medical and diagnostics, which saw a 2.4 and 1.7 per cent growth respectively. Together the sections pulled in $171.2m in the quarter.

Continued challenges in US biosciences however meant a 2.7 per cent loss for the biosciences biz in general, compared with Q3 FY11. “An uncertain research spending environment and lack of spending on instruments,”​ was the culprit according to the firm.

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