#United States #SEC Investigation #BD #Alaris System #Franklin Lakes

BD Resolves SEC Investigation

BD (Becton, Dickinson and Company), a prominent global player in medical technology, recently issued a statement confirming the resolution of a prior investigation by the U.S. Securities and Exchange Commission (SEC). This investigation pertained to issues linked to the company's public disclosures and reporting practices concerning the BD Alaris™ System, which BD acquired from CareFusion in 2015.

Settlement Overview

The SEC's order includes findings that are related to events concerning the BD Alaris™ System that transpired over four years ago. As part of the settlement, BD will pay a substantial amount of $175 million to the SEC. Importantly, this settlement figure was already reserved and reported in the company's fiscal year 2024 Form 10-K and was taken into account in BD's cash flow planning for fiscal year 2025. The company emphasized that no financial restatements are necessary as a result of this settlement and that it does not influence BD's ongoing investments in innovation or its previously articulated capital allocation strategy. Moreover, BD has confirmed that it will not modify its fiscal 2025 guidance in light of this settlement.

Importance of the BD Alaris™ System

The BD Alaris™ System plays an essential role in the healthcare sector in the United States. It has been utilized effectively for many years to administer intravenous therapies to patients, including throughout the challenges presented by the COVID-19 pandemic. The company received 510(k) clearance from the U.S. Food and Drug Administration for an updated version of the system in July 2023, and BD remains committed to advancing its Alaris fleet.

Commitment to Integrity and Improvement

In response to the scrutiny surrounding the SEC investigation, BD has implemented several enhancements to its operational procedures, governance, and disclosure practices. The company has underscored its commitment to maintaining the highest standards of integrity and ethics in its operations, ensuring the production of high-quality, safe, and effective medical products. Furthermore, BD seeks to be a trusted partner to both its customers and the patients they serve.

About BD

BD is recognized as one of the world's largest medical technology firms, dedicated to advancing the world of health through innovations in medical discovery, diagnostics, and care delivery. With over 70,000 employees, the company is passionate about supporting healthcare professionals and improving patient care. BD collaborates closely with organizations worldwide to tackle significant global health challenges, aiming to enhance outcomes, lower costs, and improve safety in healthcare delivery. For more information about BD, interested parties can visit bd.com or connect with the company on social media platforms.

In summary, BD's settlement with the SEC marks a significant step in resolving past issues related to its Alaris™ System, reaffirming the company's focus on ethical practices and commitment to the healthcare community.