Biosciences

Waters Corporation and BD (Becton, Dickinson and Company) have announced a definitive agreement to merge BD’s Biosciences & Diagnostic Solutions business with Waters, creating a leading life science and diagnostics company. The deal, valued at $17.5 billion structured as a Reverse Morris Trust, is expected to double Waters’ addressable market to $40 billion and generate $345 million in annualized EBITDA synergies by 2030.The combined company anticipates approximately $6.5 billion in 2025 sales and mid-teens adjusted EPS growth over five years, with the transaction boosting adjusted EPS within the first year.