The European Commission (CE) today validated the acquisition of the Bayer Diabetes Area by the Japanese company Panasonic Healthcare Holdings, an operation estimated at 1,022 million euros.
In a statement, the European Executive concluded that this transfer will not lead to a market distortion, since "there are several options for the Panasonic Healthcare competition to be able to reach the market with its products."
Therefore, this acquisition meets community regulation for mergers, the EC said.
Until now, the German chemical group Bayer distributed the systems manufactured by Panasonic Healthcare, but after the purchase the Japanese company will control the distribution of its own products.
Bayer reported that the transaction includes blood sugar measurement systems and help for people with diabetes that have to inject insulin.
Both companies are active in the supply of self -sufficient blood glucose systems, which are used for the treatment of diabetes.
On the day of the sale of the sale, on June 10, Bayer Healthcare, Werner Baumann, said that "we are convinced that the sale of diabetes Care to our partner of many years Panasonic Healthcare, with the support of KKR,It is a correct step to establish a business in the sustainable future. "
Panasonic Healthcare Holdings is a fundamental company, managed by KKR international investor, in which the Panasonic Corportation technological giant is also found.
