BD to Divest Stake in Vyaire Medical

Funds advised by Apax Partners have entered into a definitive agreement to purchase from BD its remaining ownership interest in Vyaire Medical. Upon completion of the transaction, which is expected to occur by the end of April (subject to customary closing conditions), Vyaire Medical will be 100 percent controlled by Apax Funds. Since Apax Funds acquired a majority stake in Vyaire Medical in October 2016, strong progress has been made by the business. A new senior management team led by CEO Dave Mowry has established key functions, delivered operational improvements, upgraded commercial capabilities, and made two accretive acquisitions. It was on the basis of this progress, and the promise that they continue to see for the business, that they sought to acquire BD’s minority stake.