Johnson & Johnson‘s (NYSE: JNJ) selling spree continued with the divestiture of LifeScan, Inc. for $2.1 billion. LifeScan is a leader in blood glucose monitoring products, serving approximately 20 million patients globally in more than 90 countries.
LifeScan markets blood glucose monitoring systems for home and hospital use under the global brand, One Touch. The OneTouch portfolio includes personal blood glucose meters, testing strips, lancets, point of care testing systems and integrated digital solutions.
The buyer, Platinum Equity, made its offer in March 2018 after working with J&J to craft a deal to allow LifeScan to beome a standalone business that would continue to innovate and grow. The firm is based in Los Angeles and has trademarked its strategy, M&A&O®, as it specializes in mergers, acquisitions, and operations of companies diverse industries.
The acceptance period was scheduled to end on June 15, but the parties announced their agreement on June 13. This transaction is expected to close by the end of the year.
Back on June 6, J&J subsidiary Ethicon sold its advanced sterilization products (ASP) business to Fortive Corporation (NYSE: FTV) for $2.7 billion.