The Bayer group has sold its Diabetes Care business to Panasonic Healthcare Holdings Co., Ltd. The total consideration for this transaction, which includes blood glucose monitoring systems and lancing devices for people with diabetes, is around one billion Euros (JPY 132 billion). The Diabetes Care business will now operate as a stand-alone company named Ascensia Diabetes Care Holdings based in Basel, Switzerland.

Walder Wyss comprehensively advised the Bayer (Schweiz) AG and the Bayer Consumer Care AG regarding this transaction. The team was led by Alexander Gutmans (Partner, Corporate/M&A) und Philippe Nordmann (Partner, Employment) and also included Reto Vonzun (Partner, Corporate/M&A), Dirk Spacek (Associate, IP/IT), Fabian Looser (Associate, Employment), Christine Scherrer (Associate, IP/IT), David M. Hill (Associate, Employment) und Janine Corti (Associate, Tax).