Summary
Johnson & Johnson (JNJ) has announced the completion of its divestiture of the LifeScan business to Platinum Equity for approximately $2.1 billion. LifeScan, a significant player in the blood glucose monitoring market, including the well-known OneTouch® brand, generated about $1.5 billion in net revenues in 2017. This strategic move signifies a shift in JNJ's portfolio, potentially allowing the company to reallocate resources and focus on its core pharmaceutical and medical device segments.
Key Highlights
- 1Divestiture of LifeScan business completed for approximately $2.1 billion.
- 2LifeScan is a leading blood glucose monitoring company, known for the OneTouch® brand.
- 3LifeScan generated approximately $1.5 billion in net revenues in 2017.
- 4The transaction was effective October 1, 2018.
- 5The company plans to discuss the divestiture during its Q3 2018 earnings call on October 16, 2018.
- 6This divestiture indicates a strategic realignment of Johnson & Johnson's business segments.