Becton, Dickinson and Company signs definitive agreement to acquire Difco Laboratories Incorporated.

FRANKLIN LAKES, N.J.--(BUSINESS WIRE)--March 19, 1997--Becton, Dickinson and Company (NYSE:BDX) announced today the signing of a definitive agreement with Difco Laboratories Incorporated, under which Becton Dickinson will acquire Difco, a Michigan-based manufacturer of microbiology media and supplies, for an undisclosed amount of cash. Becton Dickinson expects to complete the acquisition promptly following approval by Difco's shareholders and receipt of required governmental approvals and clearances.

Clateo Castellini, Chairman, President and Chief Executive Officer of Becton Dickinson, stated that "The acquisition of Difco is part of our strategy of making focused acquisitions to broaden the product array of our core businesses. Difco's strong foundation in classical microbiology, especially for industrial applications, will enable us to reach beyond infectious disease diagnostics into bacterial contamination detection and other areas of microbiology. Together, we will thus be able to serve customers more effectively in the pharmaceutical and biotechnology industries and apply our strengths to environmental, food and water testing."

Difco, which has manufacturing and research facilities in Colorado, Georgia, Michigan, Wisconsin, England and Germany, recently completed the sale of its ESP blood culture product line to AccuMed International, Inc., for an undisclosed sum. Difco's revenues for the year ended December 31, 1996 (excluding its blood culture business) were $82 million.

Becton Dickinson manufactures and sells a broad range of medical supplies and devices and diagnostic systems for use by health care professionals, medical research institutions and the general public. For the fiscal year ended September 30, 1996, Becton Dickinson had total operating revenues of $2.8 billion and net income of $283 million.

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