J&J Unit Gets Bid for Breast-Care Business

A unit of Johnson & Johnson received an offer for its breast-care business from a private-equity firm for an undisclosed amount, a report says.
By TheStreet Staff ,

NEW BRUNSWICK, N.J. (

TheStreet

) -- A

Johnson & Johnson

(JNJ) - Get Report

unit received an offer for its breast-care business from private-equity firm GTCR Golder Rauner's Devicor unit for an undisclosed amount, a report says.

The unit has been weighing a possible sale of the division to focus on areas with higher growth potential. "We believe this offer demonstrates commitment from Devicor and GTCR to develop the breast-care business to its full potential," Ethicon Endo-Surgery Chairman Karen Licitra told the

Wall Street Journal

.

The J&J unit has until June 15 to accept the "irrevocable, unconditional" offer. If it receives regulatory approval, the deal would be expected to close by the third quarter and the breast-care unit's employees are expected to transfer to Devicor, the

Journal

reports.

Ethicon sells products designed to help diagnose breast cancer in its early stages. The division's products include breast-biopsy and tissue markers as well as marketing and distribution rights for the division's Neoprobe gamma detection systems, the

Journal

reports.

Follow TheStreet.com on

Twitter

and become a fan on

Facebook.

Loading ...