On December 8, 2025, LifeScan, the company behind the OneTouch brand of blood glucose monitoring products, announced that it had emerged from its Chapter 11 financial restructuring.[1] The announcement followed approval of the company's Plan of Reorganization on October 27, 2025.[1] LifeScan said the process eliminated more than 75% of its debt, and that the company is now owned by a group of its existing lenders, including Canyon Partners and Brigade Capital Management, LP.[1]
What Chapter 11 means
Chapter 11 is the part of the US Bankruptcy Code a company uses to reorganize, not to close. The business keeps running while a court oversees a plan to restructure what it owes. Chapter 7 is the one that liquidates a company and sells off its assets. LifeScan's case was filed under Chapter 11, not Chapter 7.[2]
LifeScan described its own case as a balance sheet restructuring.[2] When it filed, the company said it would "continue to operate in the ordinary course of business during its chapter 11 cases."[2]
How the restructuring unfolded
The process started on July 15, 2025.[2] That day, LifeScan said it had signed a Restructuring Support Agreement with its first- and second-lien lenders and its equity sponsor at the time, Platinum Equity.[2] To carry out that agreement, it filed voluntary petitions for prearranged Chapter 11 cases in the United States Bankruptcy Court for the Southern District of Texas.[2] "Prearranged" means the main terms had been negotiated with lenders before the filing.
The company said its international subsidiaries were not part of the US filing.[2] It also filed "first day" motions which, once the court approved them, would let it keep paying employee wages and benefits, maintain customer programs, and honor post-petition obligations to vendors.[2] At the time, LifeScan said it expected to emerge from Chapter 11 by the end of 2025.[2]
That timeline held.[1][2] The plan was approved on October 27, 2025, and the company announced its emergence about six weeks later, on December 8.[1] The goal LifeScan set in July was to reduce more than 75% of its debt;[2] the December release said it had eliminated more than 75%.[1]
Who owns LifeScan now
Before the filing, Platinum Equity was LifeScan's equity sponsor.[2] With emergence, ownership passed to a group of the company's existing lenders, a change it had flagged in July.[1][2] The December release names two of them: Canyon Partners and Brigade Capital Management, LP.[1]
In the same release, LifeScan said it serves more than 20 million people worldwide under the OneTouch brand.[1] Valerie Asbury, the company's chief executive officer, said LifeScan now had "the flexibility to invest where it matters most: improving affordability and accessibility in key countries and markets."[1]
What this means for you
LifeScan's December announcement did not describe any change to OneTouch products.[1] During the case, the company said it was operating as usual, with "full continuity" of its OneTouch glucose measurement and management offerings.[2] Questions about the bankruptcy case itself went to its claims agent, Epiq, at 888-832-9472 (US and Canada) or 971-318-6618 (international), according to the July release.[2]
If you have questions about your meter, your strips or your care, talk to your care team or pharmacist.