Johnson & Johnson is weighing the sale of its Ortho Clinical Diagnostics Inc. unit or spinning off the unit into a stand-alone company.
Headquartered in New Jersey, Ortho Clinical Diagnostics employs some 1,100 at a Rochester-area research facility. Founded as Eastman Kodak Co.’s blood analyzer unit, the Ortho Clinical Diagnostics facility in Greece ranked as this region’s 8th largest manufacturer on the Rochester Business Journal’s most recent manufacturers list.
A sale of the J&J unit is not certain. The company is beginning an exploratory process to evaluate strategic options for the unit but would weigh all options before making a move, J& J chairman and CEO Alex Gorsky told analysts during a Jan. 22 fourth-quarter conference call.
“Options (could) include a possible divestiture if it is determined that (the Ortho Clinical unit) could have greater potential as part of another organization whose focus is more closely aligned with its core strengths, or by operating as a stand-alone company. At this time it is not certain that any transaction will be consummated,” the company said in a statement Tuesday.
(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail firstname.lastname@example.org.