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Becton, Dickinson and Company (BD) Announces Acquisition of Edwards Lifesciences’ Critical Care


BD (Becton, Dickinson and Company) has announced the acquisition of Edwards Lifesciences’ Critical Care product group for $4.2 billion. The acquisition follows Edwards’ previously announced plans to spin off Critical Care by the end of 2024 to focus on transcatheter/surgical therapies. BD has announced that the acquisition aims to enhance BD’s smart connected care solutions portfolio and advance its position in the monitoring technology sector.

Edwards, based in Irvine, CA, is a global leader in advanced patient monitoring solutions, including hemodynamic monitoring, and serves millions of patients worldwide. The Edwards Critical Care product portfolio features the Swan Ganz pulmonary artery catheter, minimally invasive sensors, noninvasive cuffs, tissue oximetry sensors, and monitors. These technologies incorporate advanced data analytics and AI-based algorithms to support clinical decision-making. Its technologies are utilized in over 10,000 hospitals to improve real-time cardiovascular condition assessment in critically ill patients, aiding in better clinical outcomes. In 2023, the Critical Care product line helped Edwards generate more than $900 million in revenue.

Upon closing, Critical Care will operate as a separate unit within BD’s Medical segment, led by Katie Szyman. BD’s Chairman, CEO, and President, Tom Polen, highlighted that the acquisition aligns with BD’s innovation and business strategies, offering new growth opportunities through BD’s global reach, innovation capabilities, and application of the BD Excellence operating system. The combination with BD’s existing technologies is poised to enhance patient care in operating rooms and intensive care units, fostering longer-term innovation and interoperability.

The acquisition’s financial terms include funding the transaction with $1 billion in cash and $3.2 billion in new debt. BD anticipates net leverage of approximately three times post-transaction, with plans to reduce this to two and a half times within 12 to 18 months using free cash flows. The transaction is expected to close by the end of the calendar year, subject to regulatory reviews and closing conditions.

Becton, Dickinson and Company (BD) Announces Acquisition of Edwards Lifesciences’ Critical Care Headshot

Jacob Golan

Jacob Golan’s practice focuses on obtaining intellectual property protection and providing counsel to clients in the biotechnology, agrotechnology, and medical device and therapeutics fields. He assists clients with worldwide patent prosecution, portfolio development and management, patentability and infringement analysis, due diligence, and related counseling.

Jacob currently represents clients in a wide range of areas including biopolymers, immunotherapies, plant varieties, transgenic organisms, medical devices and compositions, and sequencing platforms.

Jacob earned his Ph.D. in fungal biology from the University of Wisconsin-Madison. His research focused on genome evolution and the biophysics of microbial disease spread.

Previously, Jacob was an intellectual property specialist for the USDA Forest Service Patent Program for 8 years.

Jacob is also involved in various pro bono efforts related to Indigenous Peoples rights in the context of intellectual property, counseling Indigenous leaders on protecting their communities’ genetic resources and digital sequence information (DSI).

Jacob was a Summer Associate for Knobbe Martens in 2021 and 2022 and joined the firm as an Associate in 2023.

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