BD (NYSE:BDX) announced today that it completed the acquisition of smartphone-enabled, at-home medical test developer Scanwell Health.
Financial terms for the transaction were not disclosed. BD expects the acquisition to be immaterial to its fiscal 2022 results, with Scanwell’s financial results set to be reported under BD’s integrated diagnostic solutions business within the life sciences segment.
Franklin Lakes, New Jersey-based BD collaborated with Scanwell in the past on COVID-19 testing, announcing in February that it was working with Scanwell Health to offer its mobile app to pair with the BD Veritor at-home COVID-19 test, which uses a smartphone camera and app to capture and interpret results.
Scanwell will become the digital platform on which BD plans to develop at-home diagnostic tests for a range of infectious diseases, including COVID-19, influenza A+B, group A strep and more, according to a news release.
BD said that, to date, no other company uses the phone’s camera to capture the image of the test that is then analyzed and interpreted by the app to provide a definitive positive or negative digital display of results. The app can also securely store and report test results to organizations, including businesses, public health authorities and schools.
“The COVID-19 pandemic has accelerated the shift to new care settings, and BD is ready to deliver a smart, connected at-home diagnostic ecosystem to support traditional and telehealth providers and consumers,” BD President of Life Sciences Dave Hickey said in the release. “This acquisition will enable us to expand and scale our digital capabilities in-house to speed time to market for transformative at-home solutions now and in the future.”