J&J Offloads LifeScan To Private Equity Firm For $2.1bn
Executive Summary
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.
You may also be interested in...
Johnson & Johnson Growth Led By Biosense Webster And Cerenovus
Johnson & Johnson’s leadership remains optimistic about the future of its medical device divisions despite reporting a 2.6% revenue decline in the first six months of 2019 compared to the same period of 2018.
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.
M&A Analysis: Dealmaking Simmers In June
Medtech M&A activity waned in June, with the market showing signs of a summer slump. Twelve acquisitions were announced and closed during the month, a dip in activity compared to the 21 deals recorded in the same period last year, and the 17 recorded in May.