FRANKLIN LAKES, N.J., March 4, 2021 /PRNewswire/ -- BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, announced today it has acquired GSL Solutions, Inc. ("GSL"), a privately-held company that develops smart medication devices for the storage and tracking of controlled substances and patient specific medications that improve the security, efficiency and compliance of medication storage, as well as analytic capabilities to further improve inventory management, including of controlled substances, regulatory compliance and patient safety.
This acquisition expands BD's advanced medication management capabilities to further meet the needs of retail pharmacies, including those in outpatient settings.
"This strategic acquisition provides innovative technologies for retail pharmacies and builds on recent acquisitions that have complemented our traditional hospital pharmacy connected medication management solutions," said Mike Garrison, worldwide president of Medication Management Solutions at BD. "Market consolidation, larger numbers of prescriptions written and changing regulations for controlled substances are intensifying the need for accurate, automated tracking of prescription medications and narcotics. This acquisition will help enable a new suite of BD products and services for retail and outpatient pharmacy customers to meet their current and future needs."
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GSL's RFID-based products include standalone cabinets that provide secure storage for will-call prescriptions and automatically notify patients when prescriptions are ready, and secured cabinets for controlled substances. This all helps pharmacies run more efficient and profitably and shortens wait time for patients.
"GSL utilizes advanced technology to create secure medication management systems that give retail pharmacists end-to-end solutions that alleviate the administrative burden, while ensuring compliance and patient satisfaction," said Shelton Louie, GSL Solutions co-founder and CEO. "By joining BD, we look forward to maximizing the benefits of our products and technology and helping pharmacies manage their increasingly complex business and regulatory environments."
BD looks forward to welcoming GSL's approximately 20 full-time associates, headquartered in Vancouver, Washington.
GSL is the fourth tuck-in acquisition that BD has completed in fiscal 2021. Terms of the transaction were not disclosed. BD expects the transaction to be immaterial.