Carlyle Group makes binding offer to acquire J&J’s Ortho-Clinical Diagnostics
Johnson & Johnson has received a binding offer from the Carlyle Group to acquire its Ortho-Clinical Diagnostics business for $4.15 billion. Ortho-Clinical Diagnostics delivers in vitro diagnostic products that give healthcare professionals around the world the knowledge they need to make better treatment decisions sooner.
“Ortho-Clinical Diagnostics plays an important role in healthcare, and we’re confident that it’s well-positioned to serve the interests of its patients, customers and employees,” said Alex Gorsky, chairman and CEO of Johnson & Johnson. “This transaction is a result of our disciplined approach to portfolio management in order to achieve the greatest value for Johnson & Johnson.”
The acceptance period for the offer will end on March 31 unless extended, and during that time Johnson & Johnson will consult with relevant works councils and trade unions. If the offer is accepted by Johnson & Johnson, the proposed transaction would be expected to close toward the middle of the year, pending fulfillment of certain conditions including, but not limited to, the receipt of applicable anti-trust clearances and other customary closing requirements.