J&J says offered $2.1 bln for Lifescan diabetes business
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March 16 (Reuters) - Johnson & Johnson said on Friday that private investment firm Platinum Equity had offered to buy its LifeScan Inc diabetes care business for about $2.1 billion.
LifeScan makes blood glucose monitoring products and generated net revenue of about $1.5 billion in 2017, Johnson & Johnson said.
The company said the acceptance period for the offer would end on June 15, unless extended, and during that time, consultations with relevant works councils were planned.
J&J had said in January last year it was evaluating options for its diabetes care companies, specifically LifeScan, Animas Corp, and Calibra Medical Inc. (Reporting by Arjun Panchadar in Bengaluru; Editing by Savio D'Souza)
