FRANKLIN LAKES, N.J. (AP) — New Jersey medical equipment maker Becton Dickinson and Co. says it will pay $12.2 billion for rival Carefusion in a combination focused on medication systems for hospitals and pharmacies.

The companies announced Sunday that BD will pay $58 for each share of San Diego-based Carefusion. The deal, expected to close in the first half of 2015, will give BD investors a 92 percent stake in the new company.