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J&J accepts $2.1B offer for diabetes equipment division

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Platinum Equity will acquire LifeScan from  Johnson & Johnson.
Platinum Equity will acquire LifeScan from Johnson & Johnson. - ()

New Brunswick-based Johnson & Johnson has accepted a $2.1 billion offer from private equity firm Platinum Equity to acquire its diabetes monitoring equipment division, LifeScan.

Lifescan produces blood glucose monitoring equipment, including its Verio OneTouch blood glucose meter, which has widely become the standard in diabetes maintenance. Last year, the division produced revenues of nearly $2 billion. The sale follows J&J’s ongoing strategy of divesting its non-core businesses.

J&J received the original offer in March and accepted it after three months of consultation with works councils and trade unions. The transaction is expected to close by the end of 2018, subject to regulatory approval.

“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,” officials said.

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Vince Calio

Vince Calio

Vince Calio covers health care and manufacturing for NJBIZ. You can contact him at vcalio@njbiz.com.

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