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J&J accepts binding offer from platinum equity to acquire LifeScan

New Brunswick, Canada
Thursday, June 14, 2018, 12:00 Hrs  [IST]

Johnson & Johnson has announced that it has accepted the binding offer from Platinum Equity, previously announced on March 16, 2018, to acquire its LifeScan business for approximately USD 2.1 billion. LifeScan, Inc. is a world leader in blood glucose monitoring and maker of the OneTouch brand of products.

This acceptance was made after consultation with relevant works councils and trade unions. The transaction is expected to close by the end of 2018, subject to the satisfaction of regulatory clearances and other customary closing conditions.

The Johnson & Johnson Family of Companies will continue to serve those impacted by diabetes through innovative products, services and solutions from its Medical Device, Pharmaceuticals and Consumer businesses. These include important leadership and innovation in areas such as bariatric surgery and through medicines such as Invokana (canagliflozin) and Invokamet (canagliflozin/metformin HCl).

LifeScan, Inc. is a world leader in blood glucose monitoring. In the US, LifeScan, Inc. is the leading maker of blood glucose monitoring systems and its OneTouch brand products are recommended by more endocrinologists and primary care physicians than any other brand.1 Globally, more than 20 million people depend on OneTouch brand products for simple testing and accurate results to help them manage their diabetes.

 

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