Simpson Thacher is representing Japan’s Panasonic Healthcare Holdings Co., Ltd. in connection with its carve-out acquisition of Bayer AG’s Diabetes Care business division for €1.02 billion (approximately ¥138 billion). Bayer Diabetes Care engages in the sale of diabetes management devices and testing products, most notably the Contour™ brand of blood glucose monitoring meters and strips, and is active in over 125 countries. The transaction, which is expected to close in the first quarter of 2016, is subject to regulatory approvals and other customary closing conditions.
Panasonic Healthcare is a comprehensive healthcare company focusing on the development, manufacture and sale of in vitro diagnostic devices, medical IT solutions and life science devices. KKR acquired an 80% interest in Panasonic Healthcare from Panasonic Corporation in 2014.
The Simpson Thacher team includes David Sneider, Noritaka Kumamoto, Sayo Takizawa, Shannon Itoyama, Yui Hirohashi and Deborah Gruen (M&A); Lori Lesser, Genevieve Dorment and Michelle Morad (IP); Tristan Brown, Linda Barrett, Brittany McCants and Leah Segall (ECEB); Makiko Harunari, Preeta Paragash and Yutaka Adachi (Financing); Jason Vollbracht and Noah Metz (Tax); Adeeb Fadil and Noreen Lavan (Environmental); and David Vann and Étienne Renaudeau (Competition).