This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The Carlyle Group Agrees To Acquire Johnson & Johnson’s Ortho-Clinical Diagnostics For $4.15 Billion

Global alternative asset manager The Carlyle Group (NASDAQ:CG) 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.

Stephen H. Wise, Managing Director of The Carlyle Group, said, “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.”

Eric Compton, Worldwide President, Ortho-Clinical Diagnostics, said, “We are excited to work with Carlyle and believe OCD will be well-positioned as an independent company focused exclusively on the in vitro diagnostics market. In combination with Carlyle’s global reach and deep experience in the healthcare sector, OCD will have the opportunity to invest in new, innovative products and services for its customers and provide an environment for its professionals to excel in a competitive global marketplace.”

Headquartered in Raritan, NJ, with manufacturing operations in Rochester, NY, Pompano Beach, FL and Pencoed, Wales, OCD operates in 130 countries. OCD serves clinical laboratories and the transfusion medicine community around the world. The company is a provider of total solutions for early screening, diagnosing, monitoring and confirming diseases, focused on supporting hospitals, laboratories and blood centers worldwide.

Equity for the transaction comes from Carlyle Partners VI, a $13 billion U.S. Buyout fund, which completed fundraising in November 2013 with two hundred sixty-nine investors from 43 countries.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs