Johnson & Johnson
plans to divest its blood-testing business to the Carlyle Group for $4.15 billion.
The New Brunswick, N.J.-based company said in early 2013 that it was exploring strategic alternatives for its ortho-clinical diagnostics business.
The acceptance period for the Carlyle Group's bid ends March 31. If the deal is accepted by Johnson & Johnson, it is expected to close in mid-2014.
The Carlyle Group, a Washington-based private equity firm, cited “rising demand for sophisticated medical diagnostic products and services worldwide” as a contributing factor in its interest in the Johnson & Johnson business unit, which is based in Raritan, N.J.
The business provides a range of services, including prenatal testing and diagnostics for anemia, thyroid and metabolic diseases and cardiac conditions. Johnson & Johnson Chairman and CEO Alex Gorsky last year said
the diagnostics business did not have a No. 1 or No. 2 position in its market.
Johnson & Johnson is expected to provide more information about the divestiture next week when it releases its end-of-year financial results. Follow Jaimy Lee on Twitter: @MHjlee