Panasonic Healthcare Holdings €1.022 billion acquisition of Diabetes Care (Ascensia)

Overview:

• Panasonic Healthcare Holdings has acquired Diabetes Care for €1.022 billion from Bayer.
• The acquirer is 80% owned by US fund Kohlberg Kravis Roberts & Co (KKR), with Panasonic holding the other 20%.
• Diabetes Care has been rebranded as Ascensia since the sale. 
• Bayer's sale of the unit is part of its strategy to raise cash to make investments in crop protection, healthcare and veterinary products. 

Ben Naylor - Regional Editor