BD (Becton, Dickinson and Company), a leading global medical technology company in the US, has signed a definitive agreement to sell its Surgical Instrumentation platform to STERIS for $540 million.

The divestiture will include V. Mueller, Snowden-Pencer and Genesis branded products and three manufacturing facilities located in St. Louis, Mo., Cleveland, Ohio and Tuttlingen, Germany.

Approximately 360 employees who support this platform will transfer to STERIS upon the completion of the transaction. The divestiture is expected to close within BD's fiscal year 2023, ending Sept. 30. The Surgical Instrumentation platform is reported as part of the BD Surgery business within the BD Interventional segment.

Divesting the platform advances the "Simplify" pillar of the BD 2025 strategy and is an important step in simplifying BD's product portfolio and manufacturing network. The platform has three dedicated manufacturing sites and about 20,000 SKUs in its portfolio. 

STERIS is a leading global provider of products and services that support patient care with an emphasis on infection prevention. With global sales of $5 billion, STERIS has more than 17,000 dedicated associates around the world working together to supply a broad array of infection prevention and other procedural products and services, focused primarily on health care, pharmaceutical, medical device and dental customers.