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J&J's diagnostics business goes to global asset manager, The Carlyle Group.
Global alternative asset manager The Carlyle Group, has agreed to acquire Johnson & Johnson’s Ortho-Clinical Diagnostics (OCD) business, a global provider of solutions for screening, diagnosing, monitoring, and confirming diseases, for $4.15 billion. The transaction is subject to customary regulatory approvals and is expected to close in the middle of 2014.
“Ortho-Clinical Diagnostics is an established global brand with a reputation for quality and innovation,” said Stephen H. Wise, managing director of The Carlyle Group, in the press release. “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.”
OCD is headquartered in Raritan, NJ, with manufacturing operations in New York, Florida, and Wales.
Source: The Carlyle Group