KKR-backed PHCHD to Buy Bayer Diabetes Care Unit for €1.02B
June 11, 2015
Panasonic Healthcare Holdings (PHCHD) has agreed to acquire Bayer Diabetes Care from Bayer (XETRA: BAYN) for €1.02 billion. Having generated 2014 sales of €909 million, BDC is a provider of blood glucose monitoring systems to diabetics and healthcare professionals around the world and is present in more than 125 countries. Spun off from Panasonic (TYO: 6752) in 2013, PHCHD is 80% owned by KKR. The transaction is expected to close in 1Q 2016.