Platinum Equity plans to acquire J&J's LifeScan business, which makes OneTouch blood glucose monitoring products, by the end of the year. J&J has been exploring strategic options for its diabetes businesses for more than a year, as revenues from the sector have declined. In October, the company announced plans to stop making the Animas Vibe and OneTouch Ping insulin pumps, and transfer patients relying on those products to Medtronic.
J&J's divestment of LifeScan is part of its overall plan to get out of the diabetes device business. • Source: shutterstock.com
Platinum Equity, a Southern California private equity firm, will buy Johnson & Johnson's LifeScan Inc. blood glucose monitoring device business for $2.1bn. The move, announced March 16, comes as no surprise. J&J announced in the beginning of 2017 that it was exploring strategic options for its shrinking diabetes businesses. Also see "Earnings Winners & Losers: Billion-Dollar-Revenue Players JNJ, ABT, GE, PHG, BAX" - Medtech Insight, 8 February, 2018.
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