J&J Unit Gets Bid for Breast-Care Business
NEW BRUNSWICK, N.J. (
) -- 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.
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