Waters Corporation, a lab equipment manufacturer, will merge with the Biosciences & Diagnostic Solutions business of Becton, Dickinson and Company (BDX) in a transaction valued at $17.5 billion. The deal, structured as a Reverse Morris Trust, involves a stock-and-cash exchange and aims to combine Waters' expertise in lab equipment with Becton's bioscience and diagnostics unit. This merger occurs amid ongoing macroeconomic uncertainties and tariff pressures affecting the health sector. Industry analysts note that while the deal strengthens the companies' positions in the medtech and biosciences fields, it also faces risks beyond laboratory operations. The transaction reflects renewed merger and acquisition momentum in the pharmaceutical and medical technology industries following a period of reduced activity.