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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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sara June 12, 2018 7:12 pm

I was diagnosed with type 2 Diabetes and put on Metformin on June 26th, 2017. I started the some diet and followed it 100% for a few weeks and could not get my blood sugar to go below 140. Finally i began to panic and called my doctor, he told me to get used to it. He said I would be on metformin my whole life and eventually insulin. At that point i knew something wasn't right and began to do a lot of research. Then I found Lisa’s diabetes story (google " How I freed myself from diabetes " ) I read that article from end to end because everything the writer was saying made absolute sense. I started the diet that day and the next week my blood sugar was down to 100 and now i have a fasting blood sugar between Mid 70's and the 80's. My doctor took me off the metformin after just three week of being on this lifestyle change. I have lost over 16 pounds and 3+ inches around my waist in a month. The truth is we can get off the drugs and help myself by trying natural methods