Bayer has entered into an agreement to sell its Diabetes Care Business to Panasonic Health Care Co., Ltd., a company held by funds advised by KKR and by Panasonic Corporation. The total consideration for the transaction is €1.022bn. Bayer Diabetes Care Business is a leading provider of blood glucose monitoring systems, lancing devices and diabetes management software with sales of more than €900m in 2014. The sale stands at the end of an auction process.

Hengeler Mueller advised Bayer on the transaction. The Hengeler Mueller team was led by partners Matthias Hentzen and Christian Wentrup (both M&A, Düsseldorf) and included partners Christian Möller (M&A, Düsseldorf), Changfeng Tu (M&A, Shanghai), Vera Jungkind (Regulatory, Düsseldorf), Hendrik Bockenheimer (Labour, Frankfurt), counsel Patrick Wilkening (IP, Düsseldorf) and also associates Björn Bork (M&A, Düsseldorf/Frankfurt), Frederik Gärtner (M&A, Düsseldorf) and Peter Wehner (Labour, Frankfurt).