FRANKLIN LAKES, N.J., and SAN DIEGO — Medical equipment, supply and technology company BD plans to buy CareFusion for $12.2 billion in cash and stock, a deal that the companies said will create a global leader in medication management and patient safety solutions.

Announcing the acquisition agreement on Sunday, BD and CareFusion said the combined company will offer integrated medication management solutions and smart devices, from drug preparation in the pharmacy, to dispensing on the hospital floor, administration to the patient, and subsequent monitoring.

In addition, the merged company will have solid positions in patient safety to maximize outcomes in infection prevention, respiratory care and acute care procedural effectiveness, according to BD and CareFusion.

"BD’s acquisition of CareFusion allows us to align our highly complementary technologies and products to address unmet needs in the growing $20 billion global medication management industry, which leverages BD’s worldwide infrastructure," stated Vincent Forlenza, BD chairman, president and chief executive officer. "It accelerates BD’s transition from a product-focused company to a customer-centric provider of innovative health care solutions with leading scale across the medication management value chain and expanded solutions for patient safety."

An integration team of senior members of both companies will be led by BD chief operating officer William Kozy. Plans call for CareFusion to operate as part of BD’s Medical segment, and BD said it aims to maintain a presence in San Diego, where CareFusion is based.

"As part of BD, we see new growth opportunities for our products in global markets, new value we can create for our customers and new opportunities for our employees as part of what will become one of the largest, global leaders in med-tech," commented Kieran Gallahue, chairman and CEO of CareFusion. "The transaction delivers attractive value for CareFusion shareholders and represents a powerful endorsement of our strong positions in medication management, informatics across our device platforms and leading products to help improve the effectiveness of acute care procedures."

The transaction, which has been unanimously approved by the boards of both companies, is expected to close in the first half of calendar year 2015, pending regulatory and CareFusion shareholder approvals and customary closing conditions.