Business & Finance
Johnson & Johnson divests USD2.1bn LifeScan business to Platinum Equity
2 October 2018 -

Health care company Johnson & Johnson (NYSE:JNJ) reported on Monday the sale of its LifeScan business to Platinum Equity for about USD2.1bn.

LifeScan Inc is a blood glucose monitoring company and maker of the OneTouch brand of products. It generated net revenues of about USD1.5bn in 2017.

Additionally, Johnson & Johnson will continue to serve those impacted by diabetes through innovative products, services and solutions from its Medical Device, Pharmaceuticals and Consumer businesses in bariatric surgery as well as through INVOKANA (canagliflozin) and INVOKAMET (canagliflozin/metformin HCl) medicines.

On 16 October 2018, Johnson & Johnson will discuss this sale transaction during its scheduled quarterly earnings call.