BD Resolves Previously Disclosed SEC Investigation
FRANKLIN LAKES, N.J.,Dec. 16, 2024/PRNewswire/ -- BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today issued the following statement:
BD has reached an agreement with the U.S. Securities and Exchange Commission (SEC) to resolve the previously disclosed investigation related to prior public disclosures and SEC reporting regarding the BD AlarisTM System, which was acquired by BD from CareFusion in 2015 and is part of the BD Medication Management Solutions business.
The SEC Order, the findings of which BD neither admits nor denies, relate to matters concerning BD Alaris that occurred more than four years ago. As part of the settlement, BD has agreed to pay $175 million to the SEC, an amount that was reserved and disclosed in the company's fiscal year 2024 Form 10-K and was contemplated in BD's fiscal year 2025 cash flow plan. No financial restatements are required as a result of the settlement, and the settlement amount does not impact BD's investments in innovation or its previously disclosed capital allocation strategy. BD is not updating its fiscal 2025 guidance as a result of the settlement. The company believes that settling with the SEC is the right course of action to fully resolve this matter and move forward.
The BD AlarisTM System is safe and effective and is a critical part of health care in the United States. The system has been used for many years to safely deliver IV therapies to patients, including throughout the COVID-19 pandemic. The updated BD AlarisTM System received 510(k) clearance from the U.S. Food and Drug Administration in July 2023, and the company continues to update its Alaris fleet.
BD has implemented a number of improvements to its operational and governance processes and related disclosure practices. BD is committed to operating with integrity and the highest ethical standards to produce high-quality, safe and effective products and serve as a trusted partner for its customers and their patients.
About BDBD 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 more than 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 visitbd.comor connect with us on LinkedIn atwww.linkedin.com/company/bd1/, X (formerly Twitter)@BDandCoor Instagram@becton_dickinson.
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SOURCE BD (Becton, Dickinson and Company)
Released December 16, 2024