LifeScan to stay in Inverness after £1.57 billion sale
Life Sciences Scotland welcomes the news that LifeScan Scotland, intends to continue operations in Inverness after acquiring its parent company for £1.57 billion.
A question mark had hung over the future of the facility, which has a workforce of around 1,000 making blood glucose monitoring systems for world-wide markets, since J&J announced a “strategic review” of its diabetes care companies last January. Yesterday, J&J confirmed it had accepted a binding offer from Beverly Hills-based private equity firm Platinum Equity for the Scottish company’s parent, LifeScan Inc, which is also headquartered in California.
A market leader in its field, LifeScan, which markets its products under the OneTouch brand, had net revenue of about £1 billion in 2017.
Last night, a spokeswoman for J&J said: “Importantly, following the close of the transaction, Platinum Equity intends to continue operations at the Inverness facility.
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