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Bayer Said to Explore Sale of $2.5 Billion Diabetes Unit

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Bayer AG is exploring the sale of its diabetes device business as the German company focuses on faster-growing medicines, according to people with knowledge of the matter.

Bayer, based in Leverkusen, Germany, is working with Credit Suisse Group AG on the potential sale, three of the people said, asking not to be identified because the process is private. Private-equity firms such as Cinven Ltd., EQT Partners AB, KKR & Co. and Triton Advisers Ltd. may consider bidding for the unit, which could fetch between 1 billion euros and 2 billion euros ($2.5 billion), the people said.