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Germany/Japan: Panasonic Healthcare buys Bayer unit for €1 billion

 |  June 10, 2015

Panasonic Healthcare Holdings agreed Wednesday to acquire the diabetes devices business of German conglomerate Bayer for 1.02 billion euros.

Bayer Diabetes Care or BDC, is one of the leading providers of blood glucose monitoring systems to people with diabetes and healthcare professionals around the world.

The company expects to close the deal in the first quarter of 2016, subject to customary closing conditions, including relevant antitrust clearance.

“We are confident that the sale of our Diabetes Care business to our long-standing partner Panasonic Healthcare, with the strong backing of KKR, will support the long-term sustainability of this portfolio,” said Werner Baumann, member of the Board of Management of Bayer AG and CEO of Bayer HealthCare.

Full content: Blouin News

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