BD closes $18.8B Biosciences & Diagnostic Solutions deal with Waters

Franklin Lakes, NJ, February 9, 2026 (PRNewswire) -- BD said it has completed the spin-off of its Biosciences & Diagnostic Solutions business and combined it with Waters Corporation, finalizing the previously announced transaction. At closing, BD shareholders received Waters shares representing 39.2% of the combined company (fully diluted), and BD said the business was valued at $18.8B based on Waters’ Feb. 6, 2026 closing price. BD also said it plans to deploy $2B toward an accelerated share repurchase program and use the remaining $2B to pay down debt in the near term, subject to market conditions.

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