Sinocare Mulls $4 Billion Bid for J&J's Diabetes Device Companies

Sinocare, a diabetes company based in Changsha , may bid as much as $4 billion to acquire Johnson & Johnson's diabetes medical device subsidiaries. With falling revenues, some of J&J's diabetes-focused companies are exiting from the US market because they can no longer compete and revenues are falling. Sinocare is backed by China Jianyin Investment (JIC), a unit of sovereign wealth fund China Investment Corp, according to sources cited by Reuters, who also said Sinocare has hired an advisor to work on a bid. More details.... Stock Symbols: (SHZ: 300298) (NYSE: JNJ) Share this with colleagues: // //