In January 2016, Panasonic Medical completed the acquisition of Bayer's diabetes business and will operate as an independent company focusing on diabetes care solutions
Bayer is a global company with core competencies in the fields of health care, crop nutrition, and high-tech materials. We adhere to the people-oriented, with our own products and services to improve the quality of human life; At the same time, we are committed to creating more value through innovation, growth and high profitability.
In line with the mission "Bayer – Technology for a Better Life", Bayer continues to optimize its product portfolio and concentrates its activities on three sub-groups with potential, efficiency and independence – Bayer HealthCare, Bayer CropScience and Bayer MaterialScience, which are supported by three service companies. Each of the operating companies has made significant contributions to the development of major markets around the world. As an inventive company, Bayer will continue to lead the way in R&D-intensive areas. Innovation is the foundation of competitiveness, the source of development, and the key to the future success of enterprises.
With its expertise and products, Bayer AG helps diagnose, mitigate and cure diseases, improves the quantity and quality of the global food supply and contributes to a positive and modern lifestyle. With our expertise and innovative qualities, we are able to provide solutions for environmental protection and publish the results of climate change impacts.
Bayer's connection with China dates back to 1882, when Bayer first sold dyes in China. Today, Bayer's investment in Greater China (Chinese mainland, Hong Kong and Taiwan) has steadily increased. In line with the commitment of "Bayer Solutions – Responding to China's Needs", Bayer has developed from a gradual investment in the early 90s of the 20th century to a large-scale, world-class asset investment today. At present, Greater China has become Bayer's largest single market in Asia.
The Great Incident
On June 10, 2015, Bayer announced that it would sell products including the AngangTM series of blood glucose monitors and test strips, as well as the blood collection equipment of Bayanjie, Elite and Microlet, to Panasonic Medical Group for 1.022 billion euros.On January 5, 2016, Japan's Panasonic Group (NYSE: PC) said it had completed the acquisition of Bayer's (ETR: BAYN) diabetes business valued at $1 billion.Panasonic said the diabetes business will operate as an independent company, named Ascensia Diabetes Care, and will focus on developing, manufacturing, marketing and selling blood glucose meters across 125 countries.
Hidehito Kotani, President of Panasonic Group's Medical Division, said in the announcement, "Our goal is to ensure that all patients receive high-quality technology and diabetes care solutions. The merger of Panasonic Medical and Ascensia Diabetes Care will greatly help us achieve this goal." The partnership with KKR will enable both companies to serve more patients with world-class products around the world. We are very much looking forward to future business expansion and technological innovation in the field of diabetes. ”
According to Panasonic, the newly named Ascensia Diabetes Care will offer a range of diabetes monitors and has a number of strong products in development and will continue to invest in new products.
