Panasonic Healthcare buys Bayer unit for €1b

Deal for Bayer Diabetes Care is a rare example of a large overseas acquisition by a Japanese company/foreign private equity group partnership.

KKR-backed Panasonic Healthcare agreed on Wednesday to buy Bayer Diabetes Care for 1 billion $1.1 billion in a rare example of a foreign private equity group and a Japanese company jointly making a large overseas acquisition.

The deal illustrates the global ambitions of Japanese companies, which are increasingly accessing cheap domestic financing to snap up overseas assets.

Bayer Diabetes Care, a unit of German pharmaceutical giant Bayer, provides blood glucose monitoring systems to people with diabetes and healthcare professionals. Both companies had already been in partnership, with Bayer Diabetes Care marketing and selling Panasonic Healthcare products around the world for more than two decades.

...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222