The sale includes the portfolio of glucose meters and contour strips and other products such as Breeze, Elite and Microlet puncture devices.
The pharmaceutical company Bayer sold its Diabetes Care business to Panasonic Healthcare for an amount of $ 1,156 million (MDD).
“For more than 20 years our companies have shared complementary objectives.We foresee that this new association will allow our two great firms to reach new successes and give our most sincere welcome to the Bayer Care diabetes team as equal Panasonic Healthcare partners, ”said Kenji Yamane, president and CEO of Panasonic Healthcare.
The sale includes the portfolio of glucose meters and contour strips and other products such as Breeze, Elite and Press Puncture devices.
Bayer explained that the closure of this transaction is subject to the usual conditions, including the corresponding authorization in the field of competition, and is expected to take place during the first quarter of 2016.
"We trust that the sale of our Diabetes business Care to Panasonic Healthcare, our partner for so many years, and the solid support of KKR, will support the long -term sustainability of the portfolio," said Werner Baumann, president of the Bayer's Board of DirectorsHealthcare and member of the Bayer AG Board.