Frazier Healthcare Partners has agreed to sell Parata Systems to BD for $1.525 billion, according to a news release.

Parata, based in Durham, N.C., is a provider of pharmacy technology solutions. Founded in 2006, the company offers a range of services, including medication adherence packaging technology and inventory management for long-term care, hospital, retail and at-home dispensing pharmacies.

BD (Becton, Dickinson and Company) (NYSE: BDX), based in Franklin Lakes, N.J., is global medical technology company.

Frazier Healthcare Partners, based in Seattle, is a provider of private equity capital to healthcare companies. The firm, founded in 1991, prefers to make more substantial investments from a dollars perspective and pursues a wide range of investment types, including company creation and venture capital to buyouts of profitable lower-middle market companies.

The transaction is expected to close by the end of the first half of BD’s fiscal year 2023.