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Home Industry News Johnson and Johnson receives offer for wound care businesses

Johnson and Johnson receives offer for wound care businesses

2nd July 2008

Ethicon, a Johnson & Johnson company, has received an offer for the purchase of its professional wound care business.

Following the conducting of a competitive bidding process for the unit, the company has granted exclusivity for the deal to One Equity Partners for its irrevocable and unconditional offer.

Under the terms of the deal, One Equity Partners would acquire the professional wound care product portfolio of Ethicon that contains brands including Pomogran Magtrix wound tressing, Tielle hydropolymer dressing and Gegranex (becaplermin) gel 0.01 per cent.

Financial details of the agreement will not be disclosed, while it was noted the wound care business generated sales of around $270 million (135.6 million pounds) last year.

Alex Gorsky, company group chairman of Johnson & Johnson, said: “As we continually review our business priorities and seek to optimise our strategic options, we made the decision to explore the potential sale of the professional wound care business.”

He added the offer from One Equity Partners underlines its commitment to supporting the development of the unit and offers good prospects for patients, customers and employees.

In May 2008, Ehticon reported that patients undergoing a colonoscopy for the diagnosis of upper gastrointestinal tract disorders and colorectal cancer have less chance of being sedated if medics use its Sedasys system.

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