Date: 2015-06-10
Type of information: Company acquisition
Acquired company: Bayer\'s Diabetes Care business (Germany)
Acquiring company: Panasonic Healthcare Holdings (Japan)
Amount: € 1.022 billion
Terms: * On January 5, 2016 , Bayer announced that it has closed on its previously announced agreement to sell its Diabetes Care business to Panasonic Healthcare Holdings. The total consideration for the transaction is around € 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 € 909 million in sales in 2014. * On June 10, 2015, Bayer has entered into a definitive agreement to sell its Diabetes Care business to Panasonic Healthcare Holdings, 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 € 1.022 billion (JPY 138 billion). The sale will include 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. Closing of the transaction is subject to customary conditions, including relevant antitrust clearance, and is expected to occur in the first quarter of 2016.
Details: The Contour™ portfolio includes Contour™ Next, Contour™ Plus, Contour™ and Contour™ TS and is designed to meet the needs of all patients regardless of type of diabetes, stage of disease, or testing frequency. Other products include Breeze™2, Brio™, Entrust™, Elite™ and Microlet™ lancing devices.
Related: Metabolic diseases Medical devices
