Steve Chesney, an analyst with Atlantic Equities, told Reuters, “Obviously, expectations were for a higher valuation based on earlier reports, but probably closer to reality given the state of the business.”. The company develops, markets, and sells blood glucose monitoring systems for home and hospital use under the global brand OneTouch. Its blood glucose monitoring systems are marketed under the brand name OneTouch, and includes meters, test strips, lancets, point-of-care testing systems, and digital solutions. www.lifescan.com. If it’s accepted, it’s expected to close by the end of the year. With a vision to create a world without limits for people with diabetes, LifeScan, Inc. is a world leader in blood glucose monitoring. LifeScan generated $1.5 billion in revenue last year, what is generally considered a disappointing year. Based in Los Angeles, Platinum Equity is a global investment company founded in 1995. OneTouch ® Ultra ® Blood Glucose Meters provide blood glucose test results in five seconds, offer alternative test site options, and various memory and flagging features. All rights reserved. “LifeScan has been a leader in diabetes care for more than 30 years and has consistently developed and brought to market industry leading products,” said Jacob Kotzubei, Platinum Equity Partner, in a statement. LifeScan’s business risk is managed by every colleague in his or her daily work. Globally, more than 20 million people depend on OneTouch® brand products to help them manage diabetes. The ownership of LifeScan, Inc, which runs Inverness-based Lifescan Scotland, may transfer to an investment company. We all do. Join Mergr and gain access to LifeScan’s M&A summary, the M&A summaries of companies just like it, as well as recent M&A activity in the medical products sector. Published: Mar 16, 2018 Frankly if they couldn’t get along with Medtronic (NYSE:MDT) who owns 70% of the insulin pump market, it remains to be seen how they will feel working with the number three player in the market, who just so happens is trying to steal customers from JNJ’s other diabetes device company, insulin pump maker Animas. “This is an important investment for us in a business that serves millions of patients around the world. For over 35 years, LifeScan, the maker of OneTouch ® products, has had an unwavering commitment to improving the quality of life for people with diabetes, and their caregivers, by developing products defined by simplicity, accuracy and trust. The diabetes market is struggling in general these days, largely because of increased competition and downward pressure on payer reimbursements in the U.S. J&J’s diabetes revenue has been dropping since 2012, with sales sliding 7.7 percent year-on-year in the first nine months of 2017.
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