Bayer and Matsushita in Diagnostic Alliance
By HospiMedica staff writers
Posted on 01 Jun 2001
A long-term strategic business relationship to jointly develop, manufacture, and market diagnostic products has been announced by Bayer Corp. (Tarrytown, NY, USA) and Matsushita Electric Industrial Co. (Osaka, Japan). Posted on 01 Jun 2001
Under the agreement, Bayer Corporation, through its Business Group Diagnostics, will acquire rights for the sale and marketing of newly developed products and services for a broad range of applications for the diagnostics market, while Matsushita will be primarily responsible for the development and manufacture of new products and services. Combining Bayer's knowledge of the diagnostics customer and marketplace with the technologic expertise of Matsushita will enable both companies to develop products that meet the needs of the worldwide in vitro diagnostics market, estimated to reach US$25 billion by 2005.
"The relationship will leverage our combined strengths to develop innovative diagnostics solutions that meet the changing needs of the health-care market,” said Rolf Classen, president of Bayer Diagnostics. "We have already begun work on products for blood glucose monitoring through our Self Testing segment in Elkhart, Indiana, and the future opportunities are limitless.”
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