A former CareFusion Corp. facility in Yorba Linda that makes medical devices for respiratory care has seen another change in its ownership structure.
The site has about 270 workers, and the company was No. 17 on the Business Journal’s most recent list of medical device makers with operations here.
Becton-Dickinson and Co. in Franklin Lakes, N.J.—which bought San Diego-based CareFusion two years ago for $12.2 billion—last week sold 50.1% of its respiratory products division to funds affiliated with London-based private-equity firm Apax Partners.
Becton-Dickinson, known as BD, retained a 49.9% stake. The new venture is Vyaire Medical in Chicago.
BD had 2015 revenue of $10.3 billion; Vyaire’s revenue will be about $800 million, with 5,000 workers companywide.
A sale of the respiratory division had been projected last year to bring $1.5 billion, but the unit was valued at $500 million when the spinoff as a joint venture was announced in March, a trade journal said.
BD “expects to record a material tax loss on the transaction,” according to a press release.
—Paul Hughes
