J&J plans to sell LifeScan for $2.1bn
Johnson & Johnson (J&J) has revealed plans to sell LifeScan, its blood glucose monitoring unit, for $2.1 billion.
Private investment firm Platinum Equity has put in a binding offer for the unit, according to a press release published on Friday, March 16. If the offer is accepted, the transaction would be expected to close by the end of 2018.
LifeScan’s net revenue for 2017 was approximately $1.5 billion. Its OneTouch blood glucose monitoring products are used by millions worldwide.
Ashley McEvoy, company group chairman, consumer medical devices at J&J, said: “This initiative is part of our ongoing, disciplined approach to portfolio management to focus on our most promising opportunities to help patients and drive growth.”
J&J will continue to serve those impacted by diabetes in areas such as bariatric surgery and through medicines such as Invokana (canagliflozin) and Invokamet (canagliflozin/metformin HCl).
Last month, LSIPR reported that J&J planned to strengthen its medical device capabilities with the acquisition of French medical technology company Orthotax.
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