Bayer completes deal to sell Diabetes Care business to Panasonic

Pharmaceutical giant Bayer has completed an agreement to sell its Diabetes Care business to Panasonic Healthcare Holdings Co., Ltd. for around 1 billion Euros. Diabetes Care, which is now a standalone business, has been renamed Ascensia Diabetes Care Holdings. The new organisation is based in Switzerland.
Bayer Diabetes Care is a leading supplier of blood glucose meters, test strips and lancet devices, including the CONTOUR range of blood glucose meters.
“We are excited to launch as Ascensia Diabetes Care and continue to be a trustworthy provider of reliable, high-performance solutions that could make a positive, daily difference for people with diabetes,” said Michael Kloss, Chief Executive Officer of Ascensia Diabetes Care. “This is a unique and exciting opportunity for us to expand our business and better serve our patients, customers and partners worldwide.
“Panasonic Healthcare has been a pioneer in the development of key diabetes care products, and we are thrilled to work together with them to introduce new and innovative technologies that enhance the lives of patients living with diabetes. We are focused on moving forward into an exciting future and continuing to play a leading role in the diabetes care industry.”