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Johnson & Johnson to sell its blood diagnostics unit for $4 billion

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J&J's world headquarters in New Brunswick.
J&J's world headquarters in New Brunswick. - (Johnson & Johnson)

New Brunswick-based Johnson & Johnson announced Monday that it is selling its Ortho-Clinical Diagnostics business to the Washington, D.C.-based private equity firm The Carlyle Group for about $4 billion.

Johnson & Johnson said in the announcement that the transaction is expected to close toward the middle of this year.

The Carlyle Group made the offer for the company for $4.15 billion on January 16.

At the time, J&J said that it would consider the offer and consult with relevant works councils and trade unions that represent its employees before finalizing the deal.

Stephen H. Wise, managing director for The Carlyle Group, said in January, “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.”

At the time of the announcement, Alex Gorsky, the chairman and chief executive officer of Johnson & Johnson, said that the deal made sense.

"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," he said. "This transaction is a result of our disciplined approach to portfolio management in order to achieve the greatest value for Johnson & Johnson."

Ortho-Clinical Diagnostics, located in Raritan, produces vitro diagnostic products that give health care professionals around the world the knowledge they need to make better treatment decisions sooner.

Since it’s founding, Carlyle has invested $6.3 billion of equity in health care transactions around the globe.

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Emily Bader

Emily Bader

Emily Bader is the copy and web editor at NJBIZ. She is a Brielle, N.J. native and a Rutgers University alum. You can contact her at emilyb@njbiz.com or @emilybader on Twitter.

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