Bayer has finalized the sale of its Diabetes Care business to Panasonic Healthcare Holdings. The deal, which was previously announced in June last year, was closed on Jan. 5.

The new stand-alone business has been renamed Ascensia Diabetes Care Holdings with its headquarters in Basel, Switzerland.

The sale included the Contour range of blood glucose monitoring systems as well as other products such as Breeze 2, Elite and Microlet lancing devices.