Becton Dickinson (NYSE:BDX) announced today that it acquired smart medication device developer GSL solutions for an undisclosed amount.
Franklin Lakes, N.J.-based BD said in a news release that GSL Solutions develops devices for storing and tracking controlled substances, as well as patient-specific medications that improve the security, efficiency and compliance of medication storage. Additionally, the company possesses analytic capabilities to further improve inventory management of controlled substances, regulatory compliance and patient safety.
Among GSL Solutions’ offerings are the IntelliVault RD for remote delivery of medications, the IntelliCab for will call tracking and storage, the IntelliVault for controlled substance storage, filling and retrieval and the IntelliVault MTB for meds-to-bed dispensing at a patient’s bedside.
“GSL utilizes advanced technology to create secure medication management systems that give retail pharmacists end-to-end solutions that alleviate the administrative burden, while ensuring compliance and patient satisfaction,” GSL Solutions co-founder & CEO Shelton Louie said in the release. “By joining BD, we look forward to maximizing the benefits of our products and technology and helping pharmacies manage their increasingly complex business and regulatory environments.”
BD said the acquisition expands its advanced medication management capabilities to aid in meeting the needs of retail pharmacies, including those in outpatient settings.
As part of the deal, which is BD’s fourth tuck-in acquisition of fiscal 2021, the company plans to take onboard Vancouver, Wash.-based GSL’s approximately 20 full-time associates. BD expects the transaction to be immaterial.
“This strategic acquisition provides innovative technologies for retail pharmacies and builds on recent acquisitions that have complemented our traditional hospital pharmacy connected medication management solutions,” BD president of medication management Mike Garrison said. “Market consolidation, larger numbers of prescriptions written and changing regulations for controlled substances are intensifying the need for accurate, automated tracking of prescription medications and narcotics. This acquisition will help enable a new suite of BD products and services for retail and outpatient pharmacy customers to meet their current and future needs.”