The LifeScan Lesson
Back in October 2018 Platinum Equities paid $2.1 billion to acquire LifeScan from Johnson and Johnson. JNJ knew the BGM market was on the wane and to their credit wanted to get out before the market completely collapsed. Even though CGM was showing signs of life it had not yet become the standard for glucose measurement. LifeScan at the time had almost 20 million users globally and was throwing off tons of cash making it easy for Platinum to leverage the acquisition.
As a private company they made several deals yet could not do the one thing Platinum . . .
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