Becton, Dickinson and Company (BD) is a global medical technology company focused on developing, manufacturing, and selling a wide array of medical supplies, devices, laboratory equipment, and diagnostic products. These products are utilized by healthcare institutions, physicians, life science researchers, clinical laboratories, the pharmaceutical industry, and the general public. BD's core business model centers around providing customer solutions aimed at improving medication management and patient safety, supporting infection prevention, equipping surgical and interventional procedures, enhancing drug delivery, aiding anesthesiology care, enhancing the diagnosis of infectious diseases and cancers, and advancing cellular research and applications. The company operates through three main segments: BD Medical, BD Life Sciences, and BD Interventional. BD has a significant global presence, with manufacturing operations and sales across numerous countries and regions. The competitive landscape includes large medical device companies, specialized firms, and new entrants, particularly in areas like molecular diagnostics and safety-engineered devices.

• Employees: 74,000 (as of September 30, 2024)
• Geographic Footprint: 61 countries
• Headquarters: Franklin Lakes, New Jersey
• Founded: 1906
• Number of locations/facilities: 302
• Revenue: $20.178 billion (FY2024)
• Key Subsidiaries/Brands: BD Medical, BD Life Sciences, BD Interventional, BD Alaris, BD Pyxis, BD Rowa, BD Vacutainer, BD Surgiphor, BD ChloraPrep

• CEO: Thomas E. Polen
• CFO: Christopher J. DelOrefice
• Board Chair: Thomas E. Polen
• Other Key Executives: Richard Byrd (EVP and President, Interventional Segment), Antoine C. Ezell (EVP and President of the Americas and Chief Marketing Officer), Michael Feld (EVP and President, Life Sciences), Michael Garrison (EVP and President, Medical Segment), Roland Goette (EVP and President, EMEA), Pavan Mocherla (EVP and President, Greater Asia), Shana Neal (EVP and Chief People Officer), Michelle Quinn (EVP and General Counsel), David Shan (EVP and Chief Integrated Supply Chain Officer)

Key leaders have extensive experience in the medical technology and related industries, with most holding their current positions for several years.

• Annual Revenue: $20.178 billion (FY2024)
• Net Income: $1.705 billion
• Total Assets: $57.286 billion
• Employees: 74,000 (as of September 30, 2024)
• Key Financial Highlights: Revenue increased by 4.2% year-over-year. The company returned $1.1 billion to shareholders through dividends.

BD offers a wide range of products and services across its three main segments:

• BD Medical: Includes peripheral and advanced IV catheters, central lines, acute dialysis catheters, vascular access technology, vascular care solutions, needle-free IV connectors, hypodermic syringes and needles, anesthesia needles, enteral syringes, sharps disposal systems, IV medication safety and infusion therapy delivery systems, medication compounding workflow systems, automated medication dispensing, automated supply management systems, informatics and analytics solutions for enterprise medication management, pharmacy automation systems, prefillable drug delivery systems, and advanced hemodynamic monitoring systems.
• BD Life Sciences: Provides integrated systems for specimen collection, safety-engineered blood collection products, automated blood culturing and tuberculosis culturing systems, molecular testing systems for infectious diseases and women's health, microorganism identification and drug susceptibility systems, liquid-based cytology systems and HPV tests, rapid diagnostic assays for respiratory infections, microbiology laboratory automation, plated media, fluorescence-activated cell sorters and analyzers, antibodies and kits for cell analysis, reagents for life science research, solutions for high-throughput single-cell gene and protein expression analysis, and clinical oncology, immunological (HIV) and transplantation diagnostic/monitoring reagents, analyzers and informatics.
• BD Interventional: Offers hernia and soft tissue repair products, biological grafts, bioresorbable grafts, biosurgery products, surgical infection prevention products, percutaneous transluminal angioplasty balloon catheters, radio frequency ablation catheters, peripheral vascular stents, self-expanding and balloon-expandable stent grafts, vascular grafts, drug-coated balloons, ports, biopsy devices, chronic dialysis products, inferior vena catheter filters, endovascular fistula creation devices, drainage products, atherectomy and thrombectomy systems, urine management and measurement devices, indwelling, intermittent and external urine catheters, kidney stone management devices, targeted temperature management, and fecal management devices.

BD operates through three main business segments:

• BD Medical: Focuses on medication delivery, medication management, pharmaceutical systems, and advanced patient monitoring.
• BD Life Sciences: Provides products for diagnostics, specimen collection, and research.
• BD Interventional: Offers products for vascular, urology, oncology, and surgical specialties.

Revenue breakdown by segment (FY2024): BD Medical generated $10.074 billion in revenue, BD Life Sciences generated $5.191 billion, and BD Interventional generated $4.980 billion. BD completed its acquisition of Edwards Lifesciences' Critical Care product group on September 3, 2024, which was renamed as BD Advanced Patient Monitoring and now operates as a separate organizational unit within the Medical segment.

BD's strategic priorities are focused on delivering durable growth, creating shareholder value, and making appropriate investments for the future. Key strategic initiatives include:

• Accelerating innovation in smart devices, robotics, analytics, and artificial intelligence.
• Focusing on a strong portfolio of core leading products, solutions, and services.
• Investing in research and development to expand category leadership.
• Leveraging global scale to provide equitable access to affordable medical technologies.
• Supplementing internal growth through strategic acquisitions.
• Focusing on cash management and an efficient capital structure.
• Driving operating effectiveness and margin expansion through BD Excellence program.
• Fostering a purpose-driven culture with a focus on positive impact to all stakeholders.
• Cultivating an inclusive work environment.
• Growing and enabling talent through training and development.
• Driving sustainability initiatives.

BD operates in the medical technology industry, which is characterized by rapid technological advancements, increasing regulatory complexity, and challenging economic conditions. Key market trends affecting BD include:

• Increased focus on products using materials of concern and demand for more sustainable products.
• Demand for products incorporating digital capabilities, including artificial intelligence.
• Transition of care from acute to non-acute settings.
• Increased focus on chronic disease management.
• Cost containment efforts by governments and the private sector.

Major competitors include large medical device companies, specialized firms, and new entrants, particularly in areas such as molecular diagnostics, non-traditional point of care and at-home testing, and safety-engineered devices. Market share information is not explicitly provided in the 10-K.

• Global Economic Conditions: Economic downturns, inflation, capital market volatility, and interest rate fluctuations could adversely affect demand, supply chains, and prices.
• International Operations: BD's international operations are subject to political, social, and geopolitical risks, as well as foreign currency fluctuations, regulatory requirements, and anti-corruption laws.
• Competition: BD faces significant competition from a wide range of existing and new market entrants, including companies with greater financial resources.
• Product Development: The company's future growth is dependent on the development of new products, which requires significant investment in R&D, clinical trials, and regulatory approvals, and there is no assurance that such products will be developed.
• Cybersecurity: Cybersecurity incidents and breaches of information and technology systems could have a material adverse effect on the company’s operations.