Transaction includes blood glucose monitoring systems and lancing devices for people with diabetes
January 5, 2016 –
Bayer AG closed on its previously announced agreement to sell its Diabetes Care business to
Panasonic Healthcare Holdings Co., Ltd., a company which is backed by funds sponsored by leading global investment firm KKR and the Panasonic Corporation. The total consideration for the transaction is around EUR 1 billion (JPY 132 billion). The new stand-alone Diabetes Care business is named Ascensia Diabetes Care Holdings and is headquartered in Basel, Switzerland.
The sale includes the leading Contour™ portfolio of blood glucose monitoring meters and strips, as well as other products such as Breeze™2, Elite™ and Microlet™ lancing devices. Bayer’s Diabetes Care business accounted for EUR 909 million in sales in 2014...
Bayer's Press Release - Panasonic Healthcare's Press Release
