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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV