FRANKLIN LAKES, N.J., July 27, 2021 /PRNewswire/ -- BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, announced today it has acquired Tepha, Inc., a leading developer and manufacturer of a proprietary resorbable polymer technology.
Tepha's proprietary resorbable polymer (Poly 4-hydroxybutyric acid, P4HB) technology platform provides additional innovation potential that can accelerate the growth of BD's surgical mesh portfolio and drives the company into potential new areas within soft tissue repair, reconstruction and regeneration. The acquisition of Tepha also provides strategic vertical integration of an important supply chain component for BD's existing Phasix™ Mesh products. Tepha's GalaFLEX® portfolio, also based on the novel P4HB polymer, is included in the acquisition. Terms of the transaction were not disclosed.
"This strategic acquisition advances BD's category leadership in surgical mesh and enables future innovations to provide new solutions to physicians and their patients," said Kevin Kelly, worldwide president for BD Surgery. "Tepha's proprietary polymer is used in BD's current Phasix™ Mesh products and is the key technology that enables our products to provide short-term support for soft tissue repairs, while enabling rapid tissue ingrowth and reabsorbing into the body over time. The acquisition — including its current and potential applications — will help ensure BD can continually provide physicians with the latest technology to treat their patients."
Tepha's GalaFLEX® products are a bioresorbable scaffold for soft tissue support and to repair, elevate and reinforce deficiencies where weakness or voids exist that require the addition of material to obtain the desired surgical outcome.
Increasing the company's resorbable mesh portfolio is a growth driver for BD as part of its strategy to better serve customers and their patients through new innovations. The BD Interventional segment intends to expand the applicability of Tepha's technology to other medical applications and to drive the transformation of soft tissue repair and regeneration as part of its strategy to innovate solutions for clinicians and patients in the future.
"Our BD team has had a strong partnership with Tepha for more than 10 years, and we know their technology and people very well. We look forward to welcoming new, talented colleagues to the BD family," Kelly concluded.
Tepha is the sixth tuck-in acquisition that BD has completed in fiscal 2021. The transaction is expected to be immaterial to BD's fiscal 2021 financial results.
BD is one of the largest global medical technology companies in the world and is advancing the world of health by improving medical discovery, diagnostics, and the delivery of care. The company supports the heroes on the frontlines of health care by developing innovative technology, services and solutions that help advance both clinical therapy for patients and clinical process for health care providers. BD and its 70,000 employees have a passion and commitment to help enhance the safety and efficiency of clinicians' care delivery process, enable laboratory scientists to accurately detect disease and advance researchers' capabilities to develop the next generation of diagnostics and therapeutics. BD has a presence in virtually every country and partners with organizations around the world to address some of the most challenging global health issues. By working in close collaboration with customers, BD can help enhance outcomes, lower costs, increase efficiencies, improve safety and expand access to health care. For more information on BD, please visit bd.com or connect with us on LinkedIn at www.linkedin.com/company/bd1/ and Twitter @BDandCo.
This press release contains certain forward-looking statements regarding GalaFlex® and use of the Phasix™ device. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. Many of these risks and uncertainties are beyond the company's control, including without limitation, challenges inherent in market acceptance of products, integration of technology and products and other factors listed in our 2020 Annual Report on Form 10-K and other filings with the SEC. BD expressly disclaims any undertaking to update any forward-looking statements set forth herein to reflect events or circumstances after the date hereof, except as required by applicable laws or regulations.
Kristen M. Stewart, CFA
VP, BD Public Relations
SVP, BD Strategy & Investor Relations
SOURCE BD (Becton, Dickinson and Company)