# Waters and BD combine biosciences and diagnostics business in $17.5 billion deal

Waters Corporation and BD (Becton, Dickinson and Company) have announced a definitive agreement to combine BD's Biosciences & Diagnostic Solutions business with Waters in a Reverse Morris Trust transaction valued at approximately $17.5 billion. The combined company is expected to have pro forma 2025 sales of approximately $6.5 billion.

- Type: Acquisition
- Announced: 2025-07-14
- Where: United States
- Value: $17.5B
- Status: announced
- Products: liquid chromatography, mass spectrometry, flow cytometry, diagnostic solutions
- Sectors: [Medical Devices](https://endata.com/sectors/medical-devices.md), [Semiconductors and Industrial Electronics](https://endata.com/sectors/semiconductors-electronics.md)

## Companies

- [BD (Becton, Dickinson and Company)](https://endata.com/companies/23751.md)
- [Waters Corporation](https://endata.com/companies/44457.md) (acquirer)

## Sources

- [news.bd.com](https://news.bd.com/2025-07-14-Waters-and-BDs-Biosciences-Diagnostic-Solutions-Business-to-Combine,-Creating-a-Life-Science-and-Diagnostics-Leader-Focused-on-Regulated,-High-Volume-Testing), 2025-07-14: "Waters Corporation and BD today announced a definitive agreement to combine BD's Biosciences & Diagnostic Solutions business with Waters."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.