Panasonic Healthcare to Bid for Bayer Diabetes Business

TOKYO -- Panasonic Healthcare Holdings is expected to make a bid to acquire German drugmaker Bayer’s blood glucose meter business.

Panasonic Healthcare expects to spend about 100 billion yen ($830 million) for the purchase. The company is 80% owned by U.S. private-equity firm KKR, following a share sale by Panasonic in March 2014.

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