Waters and bd's biosciences & diagnostic solutions business to combine, creating a life science and diagnostics leader focused on regulated, high-volume testing

Strong strategic fit that increases presence in multiple high-growth adjacencies and offers immediate commercial impact from waters' proven execution model doubles waters' total addressable market to approximately $40 billion, with 5-7% annual growth creates a combined company with pro forma expected 2025 sales of approximately $6.5 billion and adjusted ebitda of approximately $2.0 billion increases annual recurring revenue to over 70% with over 80% of revenue coming from iconic market-leading brands anticipate approximately $345 million in annualized ebitda synergies by 2030, including $200 million of cost synergies by year three, and $290 million of revenue synergies by year five   delivers an industry-leading financial outlook with mid-to-high single-digit revenue growth, approximately 500 basis points of adjusted operating margin expansion, and mid-teens annualized adjusted eps growth expected over five years transaction expected to be accretive to adjusted eps in the first year companies to host joint conference call at 8:00 a.m. et today milford, mass.
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