BD to pay $12.2 billion for rival medical device maker CareFusion

New Jersey medical equipment maker Becton, Dickinson & Co. says it will pay $12.2 billion for rival CareFusion Corp. of San Diego in a combination focused on medication systems for hospitals and pharmacies.

The companies announced Sunday that BD will pay $58 for each share of CareFusion. The deal, expected to close in the first half of 2015, will give BD investors a 92% stake in the new company.

The merger is the latest example of consolidation within the medical sector, in which drug and device makers are turning to acquisitions to boost sales and cut costs. BD, based in Franklin Lakes, N.J., says the merger should result in $250 million in savings by 2018.

Both companies have focused recent development efforts on technology to reduce medication errors and other patient safety problems.

Vincent A. Forlenza, BD’s chairman and chief executive, said the acquisition “allows us to align our highly complementary technologies and products to address unmet needs in the growing $20-billion global medication management industry.”

The purchase would create a windfall for CareFusion shareholders. The $58-a-share price is 26% higher than CareFusion’s Friday close of $46.17.

Times staff writer Stuart Pfeifer contributed to this report.