Johnson & Johnson Gets $4.15 Billion Offer for Ortho-Clinical Diagnostics Business
Johnson & Johnson ) announced today that it has received a binding offer from The Caryle Group LP to purchase its Ortho-Clinical Diagnostics business for $4.15 billion.
Johnson & Johnson has until March 31 to make its final decision, but a statement from Chairman and CEO Alex Gorsky hints at acceptance:
Ortho-Clinical Diagnostics plays an important role in health care, and we're confident that it's well positioned to serve the interests of its patients, customers, and employees. This transaction is a result of our disciplined approach to portfolio management in order to achieve the greatest value for Johnson & Johnson.
For The Carlyle Group's part, Managing Director Stephen Wise sees plenty of growth ahead for his newest potential project:
Ortho-Clinical Diagnostics is an established global brand with a reputation for quality and innovation. Through accelerated investment in research and product development and continued expansion into both emerging and established markets, we expect to tap into rising demand for sophisticated medical diagnostic products and services worldwide. We have been focused on the diagnostics industry for many years given its attractive growth prospects, driven by the crucial role it plays in health care decision-making and influencing patient outcomes. We believe that OCD, with its world class employee base and talented management team, is poised for the next level of success.
Ortho-Clinical Diagnostics operates in 130 countries around the world, providing diagnostics support to hospitals, laboratories, and blood centers.
To date, The Carlyle Group has invested around $6.3 billion in international health-care transactions. If accepted, the deal is expected to be sealed "toward the middle of the year."
The article Johnson & Johnson Gets $4.15 Billion Offer for Ortho-Clinical Diagnostics Business originally appeared on Fool.com.
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