MALVERN, PA — LifeScan, Inc. has filed for Chapter 11 bankruptcy protection as part of a strategic effort to restructure its balance sheet and strengthen its long-term financial health. The move comes after the company entered into a Restructuring Support Agreement (RSA) with its first- and second-lien lenders and equity sponsor, Platinum Equity.
The agreement aims to reduce more than 75% of LifeScan’s outstanding debt, providing the company with flexibility to accelerate investment in new initiatives and expand its presence in the growing glucose management sector. International operations are not included in the Chapter 11 filing, which was made in the U.S. Bankruptcy Court for the Southern District of Texas.
LifeScan anticipates that, once the process is complete, majority ownership will transfer to a group of existing lenders. The company’s leadership emphasized that these financial stakeholders have long supported LifeScan and remain committed to its future.
“This balance sheet restructuring will significantly strengthen LifeScan’s financial position,” said CEO Valerie Asbury, citing continued service to more than 20 million customers in over 50 countries as a top priority. Asbury also reaffirmed the company’s focus on improving access to its flagship OneTouch® product line in the U.S., including maintaining availability without a prescription.
LifeScan’s restructuring is not expected to disrupt daily operations. The company has filed standard first-day motions to ensure business continuity, including payments to employees and vendors. LifeScan maintains it has sufficient liquidity to support operations throughout the Chapter 11 process and expects to emerge by year-end.
With reduced debt and a more agile capital structure, LifeScan plans to double down on U.S. market strategies aimed at improving both patient access and business predictability. The restructuring positions the company to better compete in a sector where reliable glucose management tools are essential for millions living with diabetes.
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