The Carlyle Group Acquires J&J Diagnostics Business

Global asset management company The Carlyle Group (Washington DC, USA) has agreed to acquire the Johnson & Johnson (New Brunswick, NJ, USA) Ortho-Clinical Diagnostics (OCD) business for USD 4.15 billion.

The Carlyle Group is ranked as the third largest private equity firm in the world, with USD 170 billion in assets under management across 113 funds and 67 fund vehicles, which have control investments in over 200 companies and more than 250 real estate investments. The Carlyle Group has been one of the largest investors in leveraged buyout transactions over the last decade, while its real estate business has actively acquired commercial real estate. The firm has more than 1,400 employees including 650 investment professionals, with offices in 33 countries globally.

OCD (Raritan, NJ, USA) operates in 130 countries in the service of clinical laboratories and the transfusion medicine community by providing solutions for early screening, diagnosing, monitoring, and confirming of diseases, with a focus on supporting hospitals, laboratories, and blood centers worldwide. 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 Wise, managing director of The Carlyle Group. “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 believe that OCD, with its world class employee base and talented management team, is poised for the next level of success.”

“Ortho-Clinical Diagnostics plays an important role in healthcare, and we’re confident that it’s well positioned to serve the interests of its patients, customers, and employees,” said Alex Gorsky, chairman and CEO of Johnson & Johnson. “This transaction is a result of our disciplined approach to portfolio management in order to achieve the greatest value for Johnson & Johnson.”

“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,” said Eric Compton, worldwide president of OCD. “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.”

Related Links:
The Carlyle Group
Johnson & Johnson
Ortho-Clinical Diagnostics