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Becton Dickinson prepares to say goodbye to its $1B diabetes care business

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diabetes, insulin

Becton Dickinson, a company that was among the first to sell glass syringes and then grew to become a global leader in insulin delivery products, is spinning off diabetes care into a separate business, a move it says will better position each entity to grow.

The new, yet-to-be-named diabetes company will have corporate offices in New Jersey and Massachusetts. It will be led by Dev Kurdikar, who is currently worldwide president of BD Diabetes Care. He’ll oversee a business that makes about 8 billion devices a year serving an estimated 30 million patients worldwide, according to an investor presentation. The diabetes business generates nearly $1.1 billion in annual sales, more than half of which is from the U.S. When the spinoff is complete, the new company will be publicly traded.

As currently structured, Franklin Lakes, New Jersey-based BD divides its operations into three business segments: BD Medical, BD Life Sciences, and BD Interventional. The largest of the three is the medical segment, which generated about $8.7 billion in revenue in fiscal 2020.

Diabetes care, which includes syringes, pen needles, and products for injecting insulin and other drugs, is part of the medical segment. Sales for diabetes care have held steady at around the $1 billion mark for the past three fiscal years, according to BD’s 2020 annual report.

The life sciences segment, which covers diagnostic products including Covid-19 tests, accounted for $4.7 billion in revenue in the 2020 fiscal year. The interventional segment, which includes surgical products, generated $3.7 billion in revenue. Much of what comprises the interventional segment came to BD via its $24 billion acquisition of C.R. Bard in 2017.

While the new company will hone its focus on diabetes products, the remaining company is pursuing the “BD 2025” growth strategy, which includes R&D investment and tuck-in acquisitions, the investor presentation shows. Those moves are being made in three areas core areas. The first is the application of smart devices, robotics, analytics and artificial intelligence to healthcare processes. Next are technologies for care settings, such as products that control drug storage and prescription filling, as well Covid-19 diagnostic testing in the home. Last are products that improve diagnosis or treatment of chronic diseases.

In a prepared statement, Tom Polen, BD’s CEO and president, said that the spinoff of diabetes care is part of the company’s active portfolio management and fits within the BD 2025 strategy.

“The spinoff will allow BD to strengthen its growth profile, enables a greater investment focus on our other core businesses and high-growth opportunities, and makes a greater impact for our customers and patients,” he said.

The spinoff will happen as a distribution of stock in the new company to BD shareholders. BD said it expects this transaction will be tax free for U.S. shareholders. The deal is expected to be completed
in the first half of 2022.

Photo: Kerem Yucel/AFP, via Getty Images

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Source: https://medcitynews.com/2021/05/becton-dickinson-prepares-to-say-goodbye-to-its-1b-diabetes-care-business/

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Northwell Health Sends Relief to India as Overwhelming Coronavirus Cases Mount

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Northwell Health is readying to send desperately needed supplies, equipment and funds as the country is in the throes of a national health care crisis.

After recently topping 20 million known cases of coronavirus, the resources and finances necessary to respond are becoming scarce. Essential equipment like N95 respirators, personal protective equipment (PPE) and even oxygen is at critical lows – a dangerous combination that is overwhelming India’s public and private health systems and threatening the well-being of over 1.3 billion people.

In response to this need, Northwell Health is providing 1 million KN 95 respirators, 35 ventilators and, in conjunction with the American Association of Physicians of Indian Origin (AAPI), 1,000 desperately needed oxygen concentrators to the hardest hit areas of the country.

These industrial-grade O2 concentrators will play a vital role in this effort, as these machines can be deployed almost anywhere and essentially pull oxygen out of thin air to be used in treating patients. Similar units were used in field hospitals across the United States when dedicated air/gas systems weren’t possible, making them ideal for this mission.

Northwell has also established a fund to support Northwell’s Center for Global Health, which will direct all financial donations received this month to the AAPI who will leverage their local partner network to distribute the funds to directly and exclusively support COVID-19 relief measures.

All of these efforts are being spearheaded by Northwell’s Center for Global Health (CGH). Established in 2019, CGH partners with Northwell department leadership to develop new programs in its core sites – Ecuador, Guyana, and India – and supports existing programs in their affiliate sites in the Dominican Republic, Kenya, and Uganda. Providers engage in global health activities to help positively impact the health of communities abroad while equipping our providers with skills that inform practice and support patient-centered care globally and locally.

“We’ve been working with our partners and vendors [in the United States] to get supplies donated, to get shipping and cargo and air freight donated, to get the supplies as quickly as possible,” said Eric Cioe-Peña, MD, who serves as the director for the Center for Global Health.

Dr. Cioe-Peña stressed the important role of Northwell Health’s supply chain and logistical support. “We also need to make sure that when we’re sending these supplies, we’re placing them strategically in the country.” He added that due to the size and scale of this crisis, India’s overall landmass and added travel restrictions, many factors come in to play to get these supplies to the hospitals and patients that need them the most.

This is another area AAPI comes into play.

Dr. Shashi Shah, chief of Urology at Northwell’s Long Island Jewish Medical Center and member of AAPI, which represents over 80,000 physicians of Indian origin, has been coordinating between the two organizations to help streamline the process.

“Through AAPI’s network of physicians and our relationships in India, particularly in the health systems, we can align with the right people who can help us make the most informed decisions and get these supplies – and just as important – the funds they need to address this crisis,” he said.

Northwell’s supply run is currently underway as an initial shipment of masks and PPE left JFK International Airport early Tuesday, May 4. They expect the full sum of equipment in country by the end of the week.

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Source: https://infomeddnews.com/northwell-health-relief-to-india/

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Aerobiotix Raises $25M Growth Equity Financing Led by Global Healthcare Investment Firm Vivo Capital

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Aerobiotix, a rapidly growing global medical company has raised a $25 million of growth equity financing.

The round was led by Vivo Capital with participation by Asahi Kasei Ventures. The new funding will be used to accelerate sales, marketing, and new product development. The Company’s infection control products have been used to support thousands of procedures across multiple surgical specialty disciplines and in over 175 hospitals and multiple long-term care facilities.

Aerobiotix has developed a novel suite of FDA 510(k) cleared hospital-based air decontamination products and its devices are supported by multiple peer-reviewed research studies. Aerobiotix devices, such as the operating-room based ILLUVIA® system, are used by leading healthcare centers to reduce bacterial and viral contamination, including SARS-CoV-2 and other emerging pathogens. Aerobiotix products provide mechanical and ultraviolet filtration to remove airborne threats with high efficiency to protect healthcare staff and visitors, and to reduce surgery-related infection risk for patients.

“Healthcare doesn’t stop at the patient, it encompasses an environment which is as important to outcomes as direct interventions. As we transition to a post-pandemic world, we are reminded of the long-term need for better environmental stewardship in healthcare and other critical settings. Aerobiotix is on the vanguard of this approach with direct decontamination, real-time air quality monitoring and internet of medical things connectivity,” states Dr. David Kirschman, founder and CEO of Aerobiotix.

Joseph Siletto, Managing Director at Vivo Capital noted, “Infection control has been an increasingly important area of focus for healthcare institutions. In particular, finding ways to reduce surgical site infections is a key priority since SSIs are extremely costly to patients, caregivers and healthcare systems. The Aerobiotix line of products provide healthcare institutions an effective, clinically proven way to improve safety and improve quality of care.”

“We have been very impressed by the Aerobiotix team and their ability to rapidly rollout a suite of innovative infection control products. The strong commercial traction Aerobiotix has achieved with limited outside capital attests to the value of the Aerobiotix solution. We are excited to partner with Aerobiotix to accelerate growth both domestically and internationally,” added Nathan Dau, Executive Director at Vivo Capital.

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Source: https://infomeddnews.com/aerobiotix-raises-25-million-growth-equity-financing/

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