J&J Offloads LifeScan To Private Equity Firm For $2.1bn
Platinum Equity plans to acquire J&J's LifeScan business, which makes OneTouch blood glucose monitoring products, by the end of the year. J&J has been exploring strategic options for its diabetes businesses for more than a year, as revenues from the sector have declined. In October, the company announced plans to stop making the Animas Vibe and OneTouch Ping insulin pumps, and transfer patients relying on those products to Medtronic.
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Medtronic's Eyes Are Still Peeled For M&A, But Organic Growth Is The Primary Goal
Medtronic may not have hit the headlines with any M&A deals this year so far, but the medtech giant has turned in an impressive set of first-fiscal quarter results driven by strong product sales. Organic growth, according to CEO Omar Ishrak, is currently the company's main goal, but it won't dismiss any tuck-in acquisitions that complement this organic growth and the firm will act promptly when the right opportunity comes knocking.