Eliminates More Than 75% of Prepetition Debt, Positioning Company to Improve Product Affordability and Availability in Key Markets
New Ownership Group to Support LifeScan’s Commitment to Improving Life for People with Diabetes
MALVERN, Pa.–(BUSINESS WIRE)–LifeScan (the “Company”), a world leader in blood glucose monitoring, today announced its successful emergence from its Chapter 11 financial restructuring process following approval of its Plan of Reorganization on October 27, 2025. Through this process, the Company eliminated more than 75% of its debt, providing the financial flexibility needed to continue its leadership in the glucose management industry.
In connection with emergence, LifeScan is now owned by a group of its existing lenders, including Canyon Partners and Brigade Capital Management, LP. LifeScan moves forward well-positioned to continue serving more than 20 million people on a global basis with the iconic OneTouch® brand backed by a significantly stronger balance sheet and a committed new ownership group.
“Today signals a powerful new beginning for LifeScan and enables us to lead from a position of strength,” said Valerie Asbury, Chief Executive Officer of LifeScan. “We are reinforcing our commitment to the patients who rely on our products now that we have the flexibility to invest where it matters most: improving affordability and accessibility in key countries and markets. I’m grateful to our employees and partners whose dedication to LifeScan made this possible.”
“We are pleased to have supported LifeScan throughout this process, enabling them to move forward with a strengthened financial foundation,” said Aaron Rizkalla, Managing Director at Canyon Partners. “We look forward to serving as a committed partner to LifeScan as the Company embarks on its continued evolution.”
“We see tremendous opportunity ahead for LifeScan,” said Ray Garson, Partner at Brigade Capital Management, LP. “We are excited to work closely with LifeScan’s management team as the Company enters its next era and look forward to supporting its plans to improve product affordability and accessibility in key markets.”
Advisors
Milbank LLP served as legal advisor, Alvarez & Marsal served as financial and restructuring advisor, PJT Partners LP served investment banker, and C Street Advisory Group served as communications advisor to the Company. Davis Polk & Wardwell LLP served as legal advisor and Houlihan Lokey served as investment banker to an ad hoc group of lenders that entered into the RSA.
About LifeScan
LifeScan is a global leader in blood glucose monitoring and digital health technology and has a vision to create a world without limits for people with diabetes. More than 20 million people and their caregivers around the world count on LifeScan’s OneTouch® brand products to manage their diabetes. Together, LifeScan and OneTouch® improve the quality of life for people with diabetes with products and digital platforms defined by simplicity, accuracy, and trust. For more information, please visit LifeScan.com.
About Canyon Partners, LLC
Founded in 1990, Canyon employs a deep value, credit intensive approach across public and private corporate credit, asset backed credit, and real estate. The firm seeks to capture excess returns available to those investors with specialized expertise, rigorous research capabilities, and the ability to underwrite complexity. Canyon invests on behalf of a broad range of institutions globally. For more information visit www.canyonpartners.com.
About Brigade Capital Management, LP
Brigade Capital Management, LP (“Brigade“) is a global asset management firm founded in 2006 with over $30 billion in assets under management. Brigade invests in public and private credit instruments using a bottom-up investment philosophy across a variety of diversified funds. As an SEC-registered investment advisor, Brigade is one of the largest independent alternative asset managers with a 49-person investment team. Founded by Donald E. Morgan III (CIO and Managing Partner), Brigade is headquartered in New York with a global footprint that includes an office in London.
Contacts
Media
C Street Advisory Group
lifescan@thecstreet.com
