Panasonic closes $1B Bayer diabetes biz buy

News from Mass Device
JANUARY 5, 2016 BY FINK DENSFORD

Panasonic (NYSE:PC) said today it closed its $1 billion buy of Bayer‘s (ETR:BAYN) diabetes care business.

The diabetes care business will operate as a stand alone company, named Ascensia Diabetes Care and will develop, manufacture, market and sell blood glucose monitoring meters and strips across 125 countries, according to Panasonic.

“Our goal is to ensure high-quality technologies and diabetes care solutions are available to all patients who need them. Bringing together Panasonic Healthcare and Ascensia Diabetes Care will significantly help to achieve this goal. Together with KKR, the companies will be able to serve more patients in more places across the globe with world-class products. We greatly look forward to expanding this business and innovating new solutions at this integral point in the diabetes care industry,” Panasonic Healthcare prez Hidehito Kotani said in a press release.

The newly named Ascensia Diabetes Care will offer the Contour portfolio of glucose monitors, and has a “strong pipeline” of products and will continue to invest in R&D and new products, Panasonic said.

“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. 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.”

The buy was announced in June, with Bayer and Panasonic saying they expected it to close in early 2016.

Filed Under: Business/Financial News, Mergers & Acquisitions, Diabetes
Tagged With: Bayer HealthCare, Panasonic Corp.

Panasonic? Huh. Well, as long as I can still get my ContourNext test strips I guess it doesn’t matter too much. Does this mean I’ll be able to play MP3’s on my Contour meter?

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[quote=“DrBB, post:2, topic:50300, full:true”]Does this mean I’ll be able to play MP3’s on my Contour meter?
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That’s so 20th Century, @DrBB! You want to stream video on your meter now!

I’m hoping it means they’ll find ways to extend availability – I have yet to be on an insurance plan that covers the Bayer Contour line – I’m hoping that will change…

Or, maybe we will be able to buy test strips at Radio Shack – oh wait…

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@DrBB and @Thas, you guys are hilarious! I was hoping it meant everyone with diabetes could get a free stereo :grinning:, but I guess streaming video on a glucometer would be pretty cool, too.

i am still trying to figure out WHEN exactly this is going to go down. i got a letter from them but they dont specify a date.

if so DrBB, does it sing the results back to you

Emily, I already got my new TV int he mail. Of course i have been a contour user for about 5 mins. Now where are those crazy headphones?

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But to be serious, I am really excited about this. I think it gives us new platforms and more manufacturers with a long term commitment is a great thing. This could be a win - win for Panasonic and diabetes

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I am on Medicare with a supplement that covers 100% of the cost of Dexcom monthly subscription that includes the contour next one meter and test strips. - I am still on G5, not yet upgraded to G6.