LifeScan
Industry | Medical devices |
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Founded | 1981; 43 years ago (1981) |
Headquarters | Malvern, Pennsylvania and Zug, Switzerland |
Area served | Global |
Revenue | US$1.5 billion (2017)[1] |
Number of employees | 2,400(2020)[2] |
Parent | Platinum Equity |
LifeScan, Inc. is a diagnostic systems manufacturer with products focusing on the diabetes market, specifically blood glucose monitoring systems.
History
LifeScan was established in 1981.[3] It was acquired by Johnson & Johnson (J&J) in 1986,[2][4] and in June 2018, J&J agreed to sell LifeScan to Platinum Equity as part of its strategic exit from the diabetes device market, accepting an offer originally tendered in March 2018.[1] The divestiture completed in October 2018.[1][5]
LifeScan manufactures and markets the OneTouch Ultra and OneTouch Verio families of products for home use.[1] The company philosophy is to "create a world without limits for people with diabetes." During its existence, LifeScan revolutionized blood glucose monitoring by introduction of its "One Touch" systems. Originally, the measurement was made using a test strip which changed color depending on the glucose content of a blood sample, and LifeScan rose to become the world-leading producer of such systems in the early 1990s. Later, the measurement technology was changed to electrochemistry, but LifeScan maintained a leading position in the industry.
LifeScan has facilities in Inverness, Scotland; Burnaby, British Columbia, Canada; and Cabo Rojo, Puerto Rico. Animas Corporation of West Chester, Pennsylvania, which produced insulin pumps for people with diabetes, was acquired by Johnson & Johnson in 2006 and now closed, reported to LifeScan.
LifeScan, which employed 2400 people as of early 2018, was the central part of J&J's diabetes device business.[2] J&J announced plans to exit from the diabetes device market in 2017, including divesting LifeScan.[2] In January 2018, there were reports of Chinese investors expressing interest in purchasing the company for US$3 to 4 billion, while in March, Platinum Equity offered the far smaller sum of US$2.1 billion for the unit.[2][6]
References
- ^ a b c d Nawrat, Allie (June 15, 2018). "Johnson & Johnson sells LifeScan to Platinum Equity". Pharmaceutical Technology. Verdict Media Limited. Retrieved June 16, 2018.
- ^ a b c d e Panchadar, Arjun (16 March 2018). "Johnson & Johnson nears diabetes device exit with $2.1 billion LifeScan sale". Reuters. Additional reporting by Caroline Humer and Munsif Vengattil; S D'Souza, P Berlowitz (editors). Retrieved 17 March 2018.
- ^ "LifeScan Inc - Company Profile and News". Bloomberg.com. Retrieved 30 April 2024.
- ^ About Us | LifeScan, Inc." LifeScan. Retrieved on September 18, 2014.
- ^ LaVito, Angelica (October 16, 2018). "Johnson & Johnson beats expectations as cancer drugs, new baby care products help boost sales". CNBC.
- ^ "Johnson & Johnson Announces Binding Offer from Platinum Equity to Acquire LifeScan, Inc". Content Lab - U.S. 16 March 2018.
External links
- LifeScan
- LifeScan Diabetes Institute
- OneTouch
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subsidiaries
brands
- Abciximab
- Actifed
- Axert
- Bactidol
- Bapineuzumab
- Benecol (US license)
- Benylin
- Caladryl
- Cyclobenzaprine
- Carefree (feminine hygiene)
- Cetirizine
- Doripenem
- Eluxadoline
- Carisbamate
- Carlumab
- Cladribine
- Combantrin
- Doxil
- Doxorubicin
- Euthymol
- Fulranumab
- Helioplex
- Hydromorphone
- JNJ-26489112
- JNJ-26990990
- JNJ-5207852
- JNJ-39393406
- JNJ-7925476
- Emtricitabine/rilpivirine/tenofovir
- K-Y Jelly
- Levaquin
- Lomotil
- Loperamide
- McN5652
- Methylphenidate
- Ofloxacin
- Opsumit
- Micronor
- Mylanta
- Mylicon
- Natrecor
- Nizoral
- Neomycin/polymyxin B/bacitracin
- o.b.
- OneTouch Ultra
- Ortho Tri-Cyclen
- Ortho-Cyclen
- Ortho-Novum
- Pancreatic
- Prucalopride
- Quisinostat
- Rabeprazole
- Reach (brand)
- Rembrandt toothpaste
- Rolaids
- RWJ-51204
- Savlon
- Sinutab
- Splenda
- Sylvant
- Telaprevir
- Tipifarnib
- 2010 DePuy Hip Recall
- 2010 Johnson & Johnson children's product recall
- 5B (film)
- Born Rich (2003 film)
- Chicago Tylenol murders
- Dr. Paul Janssen Award for Biomedical Research
- Global Health Innovative Technology Fund (GHIT)
- Innerstate
- Robert Wood Johnson Foundation
- Steve Patterson Award for Excellence in Sports Philanthropy
- Tooth Protectors
- YODA Project