(Reuters) -Medical device maker Becton Dickinson and Co said on Monday it would acquire Parata Systems in a $1.52 billion all-cash deal, as it expands into the pharmacy automation sector.
Parata Systems provides automation solutions, such as medication adherence packaging and high-speed robotic dispensing technologies, to pharmacies to help them reduce costs and enhance patient safety and experience.
The pharmacy automation systems market has seen growth in recent years due to a rise in various diseases and a surge in demand for reducing prescription and dispensing errors.
The deal is one that will help the company’s 2025 growth strategy around smart, connected care and enabling new care settings, said Tom Polen, Becton’s chief executive officer.
The transaction is expected to close by the end of the first half of Becton Dickinson’s fiscal year 2023, the company said.
(Reporting by Mrinalika Roy in Bengaluru; Editing by Amy Caren Daniel)
