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J&J in Talks to Sell Hips-and-Knees Business to Apollo for $20 Billion
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Johnson & Johnson (J&J) is reportedly in negotiations to sell its hips-and-knees medical device business to private equity firm Apollo Global Management for approximately $20 billion. The information comes from a report by Yahoo Finance, citing sources familiar with the matter. The potential deal would involve J&J divesting a significant part of its orthopedics portfolio, which focuses on hip and knee replacement products. The sale price of $20 billion reflects the value of this business unit. The talks are ongoing, and no final agreement has been reached, meaning the transaction could still fall through or change in terms. This move is part of J&J's broader strategy to streamline its operations and focus on higher-growth areas, such as pharmaceuticals and medical devices for other specialties. Apollo, a major investment firm, would acquire the business to expand its healthcare holdings.
Source report
Johnson & Johnson (J&J) is in discussions to sell its hips-and-knees surgical business to private equity firm Apollo Global Management for approximately $20 billion, according to sources familiar with the matter.
Deal Overview
- Seller: Johnson & Johnson
- Buyer: Apollo Global Management
- Estimated Value: $20 billion
- Business Unit: Hips-and-knees surgical division
Context
The potential transaction represents a significant divestiture for J&J as the company continues to streamline its portfolio. The hips-and-knees business is part of J&J's medical devices segment, which has been under review as part of the company's broader strategic realignment.
Next Steps
The talks are ongoing, and no final agreement has been reached. Details of the deal structure and timeline remain subject to negotiation.
Source
Yahoo FinanceWestern
Part of this Story
Apollo Global in talks to acquire Johnson & Johnson’s DePuy Synthes unit for $20 billion