J&J accepts $2.1 billion bid for its LifeScan diabetes business

Johnson & Johnson has accepted an offer of about $ 2.1 billion for its LifeScan business from private equity firm Platinum Equity.

“This is an important investment for us in a business that serves millions of patients around the world,” Platinum Equity Chairman and CEO Tom Gores said in a statement in March.

The transaction was included in the earnings forecast J&J gave in January.

Last year, J&J said it was reviewing strategic options for several of its diabetes businesses, including LifeScan, Calibra Medical and Animas. In October, J&J announced it had decided to close Animas and exit the insulin pump market. It chose Medtronic as its partner to transition current patients.

Shares of J&J dipped 0.4 percent in after-hours trading.

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