Panasonic Healthcare announced today that it has completed its acquisition of Bayer AG's Diabetes Care business for about EUR 1 billion. The acquired business will become a stand-alone company called Ascensia Diabetes Care with 1,400 employees and operations in 38 countries.

Ascensia Diabetes Care and Panasonic Healthcare will work together to develop and manufacture blood glucose monitoring meters and strips to be sold to people with diabetes in over 125 countries.

“Our goal is to ensure that high-quality technologies and diabetes care solutions are available to all patients who need them," Hidehito Kotani, president of Panasonic Healthcare, said in a statement. "Bringing together Panasonic Healthcare and Ascensia Diabetes Care will significantly help to achieve this goal."

Ascensia's flagship products are its CONTOUR portfolio of blood glucose meters, which include its CONTOUR NEXT Blood Glucose Monitoring Systems and CONTOUR PLUS Blood Glucose Monitoring Systems. It also offers its Diabetes Management Solutions, which are used to track results and trends.

Going forward, Ascensia plans to continue investing in research and development of new products to improve diabetes care.

Business Affairs Homepage