Becton, Dickinson and Company (NYSE:BDX) Goldman Sachs 46th Annual Global Healthcare Conference June 9, 2025 2:00 PM ET
Company Participants
Thomas E. Polen – President, CEO & Chairman
Conference Call Participants
Robert Justin Marcus – JPMorgan Chase & Co, Research Division
Unidentified Analyst
Yes. One additional disclosure that we needed. So the session is not open to the press. There you go. All right. So I want to thank Tom Polen, Chairman and Chief Executive Officer of Becton, Dickinson. I appreciate you’re making the time. I know you’re on the — you have a lot of different priorities right now. So very much appreciate your making the time to be here.
Question-and-Answer Session
Unidentified Analyst
I want to kind of start with, I think, maybe a strategic topic that I get a ton of questions on is like where are we in the biosciences or life sciences separation process?
Thomas E. Polen
Sure. So we had shared when we first announced the separation that we would expect to announce the actual form of the transaction this summer, which remains on track. We said that’s kind of an American summer between Labor Day and Memorial Day or Memorial Day and Labor Day, and that continues.
So the other things that we’ve shared in the context of that, which is no different from when we announced is that as you think about forms of separation, right, academically, there’s 3 kind of macro forms of separation: a spin, a sale and a merger of RMT. We view that — obviously, 2 of those 3 don’t have stand-up costs and also have synergies that you have the opportunity to participate in and so that those 2 could create outsized value versus the third option. Obviously, that would be a sale or an RMT. And so again, we continue through our process.
