Swiss medical device maker Ypsomed to sell diabetes business

Bern-based injection device manufacturer Ypsomed announced on Tuesday that it was selling its diabetes-related activities to another Swiss company TecMed. The transaction is worth CHF420 million ($517 million). + Get the most important news from Switzerland in your inbox “Proceeds from the sale will finance the expansion of the injection systems business,” said a statement. The transaction is expected to be completed in the second half of the year, subject to regulatory approval of the ongoing demerger. In November, the company announced the start of the process of selling its diabetes care business. Following a comprehensive marketing phase involving both strategic and financial buyers, TecMed “emerged as the ideal partner to take over Ypsomed’s diabetes care business”. Translated from German by DeepL/jdp How we work We select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate them into English. An editor then ...