J&J sells unit in $4bn deal

City A.M. Reporter
JOHNSON & Johnson said yesterday it will sell its ortho clinical diagnostics unit to private equity firm Carlyle Group for $4.15bn, a year after announcing it was considering spinning off or selling the slow-growing business.

The firms said that, if approved, the deal should close in the middle of 2014. In January 2013, J&J said it was considering the sale or spin-off of the unit, whose products include equipment for laboratory diagnostics and blood transfusion screening.