Parata Systems provides pharmacy technology solutions to improve patient experience and safety while reducing costs.
The company provides a comprehensive portfolio of pharmacy automation solutions with high-speed robotic dispensing technologies, medication adherence packaging and pharmacy workflow solutions.
BD stated that the use of automation and advanced software helps pharmacists focus on patient interactions and clinical work, which, in turn, helps improve medication safety, adherence and patient outcomes.
Through the acquisition of Parata, BD will have access to a new pharmacy automation market segment, which is currently worth $600m and expected to grow.
The deal will also add new technologies, including retail pharmacies, acute care health systems, long-term care and home settings, to BD’s medication management solutions.
BD chairman, CEO and president Tom Polen said: “Parata expands BD’s solutions to a new area of the high-growth pharmacy automation space and is a prime example of BD executing our disciplined M&A strategy.
“Parata has a highly attractive financial profile and compelling value proposition that meets all of our rigorous investment criteria on growth, profitability and returns.
“With the addition of Parata, BD further advances our 2025 growth strategy around smart, connected care and enabling new care settings.”
The transaction is subject to certain customary closing conditions, including receipt of regulatory approvals. It is expected to be completed by the end of the first half of fiscal year 2023.
Last month, Babson Diagnostics and BD expanded their strategic collaboration to advance blood sample collection into new care settings.