Parata Systems

Parata Systems offers pharmacy automation solutions such as drug compliance packaging and high-speed robotic dispensing technologies to help them reduce costs and improve patient safety and experience.

History

2022: Becton Dickinson bought Parata Systems for $1.52 billion

On June 6, 2022, medical device maker Becton Dickinson announced that it would acquire Parata Systems for $1.52 billion, expanding its business in the pharmacy automation sector. The deal is expected to close by the end of the first half of 2023.

As noted in Becton Dickinson, starting from 2020, there has been an increase in the market for pharmacy automation systems due to an increase in the number of various diseases and an increase in demand for a decrease in the number of errors in prescriptions and dispensing drugs to patients. Pharmacy warehouses have to work with a huge range: drugs come in different dosages and dosage forms, the difference in price offers from different distributors and manufacturers. Employees need to track and overestimate the balances in the warehouse, but additionally there is state control over pricing and specific models characteristic of the pharmacological business.

Significant macroeconomic trends, such as lack of clinicians, rising wages, centralization of pharmacy services, and increased requirements for pharmacists, are driving the need for intelligent solutions for workflows. Through automation from Parata Systems and advanced software, pharmacists can devote more time to more important clinical work and patient engagement, helping to improve treatment adherence, safety, and patient outcomes.

The deal will complement Becton Dickinson's drug management solutions with a new suite of technologies for the entire care continuum, including acute care systems, retail pharmacies, long-term care and home settings. The $600 million segment of the pharmacy automation market, which is expected to grow by about 10% annually to $1.5 billion in the United States alone until 2032. Together with Becton Dickinson, the company expects Parata Systems solutions to outpace market growth with Becton Dickinson's commercial presence, global scale and innovative capabilities.

According to Becton Chief Executive Officer Tom Polen, the deal will drive the company's 2025 growth strategy to provide intelligent, connected care and create new conditions for care.^[1]

Notes