Bayer to sell Diabetes Care unit to Panasonic Healthcare

LEVERKUSEN, Germany — Bayer announced Wednesday that it would be selling its Diabetes Care business to Tokyo-based Panasonic Healthcare. The $1.1 billion deal is expected to close in the first quarter of 2016 and will include Bayer’s Contour line of blood glucose monitors and test strips, as well as lancing devices like Microlet and Elite. 

 

"For more than 20 years, our companies have shared complementary goals,” Panasonic Healthcare president Kenji Yamane said. “We anticipate that this partnership will take our two great businesses to new heights, and we wholly welcome the BDC team as full partners to Panasonic Healthcare.”

 

Bayer’s Switzerland- and U.S.-based Diabetes Care unit brought in a little over $1 billion in 2014 sales with its Contour blood glucose monitor and test strip line leading its portfolio.

 

“We are confident that the sale of our Diabetes Care business to our long-standing partner Panasonic Healthcare … will support the long-term sustainability of this portfolio," Bayer HealthCare CEO Werner Baumann said.