Medical technology giant Becton, Dickinson and Company (BDX) has acquired San Francisco-based Velano Vascular to make its vision of a 'One-Stick Hospital Stay’ a reality. The financial terms of the deal have been kept under wraps.
According to Deloitte, Velano Vascular has been recognized as one of the most innovative companies in the world and the fastest-growing medical device company in 2020. Its innovative, needle-free technology enables health care professionals to help eliminate multiple needlesticks when collecting blood samples.
Velano’s high-end technology allows high-quality blood draws from existing peripheral intravenous catheter (PIVC) lines, thereby alleviating pain and discomfort for patients from multiple needlesticks. (See BDX stock charts on TipRanks)
Rick Byrd, President of Medication Delivery Solutions at BDX, commented, "As a global leader in vascular access solutions and blood collection, BD has been on the forefront of innovations that improve the patient experience and reduce additional needlesticks."
He further added, "Now, with the addition of Velano and its groundbreaking technologies, we can envision a world where a 'One-Stick Hospital Stay' could be a reality for many by making the numerous inpatient blood draws better for everyone."
Bank of America Securities analyst Bob Hopkins recently decreased the price target on BDX from $277 to $265 (6.5% upside potential on the stock.)
Consensus among analysts on Wall Street is a Moderate Buy based on 2 Buy and 3 Hold ratings. The average analyst price target of $269 implies 8.1% upside potential to current levels.
BDX scores a 6 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock is likely to perform in line with market expectations.
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