Bayer to divest Diabetes Care to Panasonic
Παρασκευή 12 Ιούν 2015
Bayer has agreed to divest its Diabetes Care business, including the Contour portfolio of blood glucose monitoring meters and strips, to Panasonic Healthcare Holdings in a deal worth €1.02 billion (US$1.15 billion).
The business recorded sales of €909 million in 2014 from a range of blood glucose monitoring systems, lancing devices and diabetes management software.

The main brand is the Contour portfolio of blood glucose monitoring meters and strips. Contour was Bayer Consumer Health's best-selling product in 2014, but sales were down by 8.9% to €658 million.

The Consumer Health division – which houses the Animal Health, Consumer Care and Medical Care businesses – reported sales up by 2.4% to €7.92 billion in 2014, which represented a rise of 2.1% after adjusting for currency and portfolio effects.

Bayer's Diabetes Care business, which is part of the company's Medical Care business, also offers the Breeze 2, Brio and Elite meters, as well as the Microlet lancing devices.

Werner Baumann, a member of Bayer's Board of Management and chief executive officer of Bayer HealthCare, said 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".

Panasonic Healthcare Holdings is backed by funds sponsored by private-equity firm KKR and Japan's Panasonic Corporation.

The deal is expected to close in the first quarter of 2016.

Πηγή:  OTCToolBox

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