The Bayer unit, Bayer Diabetes Care, has marketed and sold products manufactured by Panasonic Healthcare for decades and is the exclusive sales and distribution partner for Panasonic’s Contour Next line of products.
Panasonic Healthcare, which was spun off from the Panasonic Corporation in 2014 and is based in Toyko, is 80 percent owned by the private equity firm Kohlberg Kravis Roberts and 20 percent owned by Panasonic.
“Since first taking steps to becoming an independent health care company from Panasonic Corporation through K.K.R.’s investment, it has been our key management objective to form strong partnerships with strategically pivotal companies,” Kenji Yamane, the Panasonic Healthcare president, said in a news release. “For more than 20 years, B.D.C. has been our flagship partnership with whom we share complementary goals,” he said.
The Bayer unit provides blood-glucose monitoring systems and is present in more than 125 countries. It posted sales of €909 million in 2014.
The transaction is expected to close in the first quarter of 2016 and is subject to regulatory approval.
Source nytimes.com
