January 05, 2016
Bayer closes on divestiture of Diabetes Care business to Panasonic Healthcare Holdings Co., Ltd. for around EUR 1 billion
Transaction includes blood glucose monitoring systems and lancing devices for people with diabetesLeverkusen, 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: Science For A Better Life
Bayer is a global enterprise with core competencies in the Life Science fields
of health care and agriculture. Its products and services are designed to
benefit people and improve their quality of life. At the same time, the Group
aims to create value through innovation, growth and high earning power. Bayer
is committed to the principles of sustainable development and to its social and
ethical responsibilities as a corporate citizen. In fiscal 2014, the Group
employed around 119,000 people and had sales of EUR 42.2 billion. Capital
expenditures amounted to EUR 2.5 billion, R&D expenses to EUR 3.6 billion.
These figures include those for the high-tech polymers business, which was
floated on the stock market as an independent company named Covestro on October
6, 2015. For more information, go to www.bayer.com.