Panasonic Healthcare looking to buy Bayer business

Bayer has been restructuring business, selling off business units. In 2014, the company sold its vascular catheter business to Boston Scientific and is now planning to to put its blood glucose meter business up for sale – which is expected to draw bids from Panasonic Healthcare as well as others, according to a Nikkei report. Panasonic Healthcare is expected to spend around USD 830 million for the business. The market for blood glucose meters is forecasted to grow by some 10 percent a year, as the number of people diagnosed with diabetes is increasing, the report continues. The companies are already in discussions about the possible sale of Bayer's diabetes devices business to Panasonic Healthcare.