This Week
  • Renovation work begins this fall on the Sibley Building. Click on the image for a slideshow.

  • Eber Bros. is in a legal fight with the Pension Benefit Guaranty Corp.

  • Tapping into a business model mostly used in larger cities has led to growth at Inde.

  • Suzanne Nasipak-Chapman is Rochester market executive for First Niagara Financial Group.

  • New hotels add to Rochester's hospitality scene, but their impact is not yet certain.

  • The new Golisano Children's Hospital is dedicated.

Reports: J&J begins effort to sell Ortho-Clinical Diagnostics

Rochester Business Journal
September 6, 2013

Johnson & Johnson has started a sales process for its Ortho-Clinical Diagnostics Inc. unit, which employs some 1,100 workers in Rochester, published reports state.

The unit originally was an Eastman Kodak Co. medical diagnostic unit producing Kodak-brand blood analyzers.

The sale could fetch $5 billion, Reuters and the Wall Street Journal reported Friday, citing unnamed sources.

J&J has asked JPMorgan Chase & Co. to run the sale and is preparing to send detailed financial information to potential buyers, including some of the world's largest private-equity firms along with health care companies, the sources told Reuters. The companies declined to comment on the report.

In January, the Rochester Business Journal reported Johnson & Johnson was considering a sale of Ortho-Clinical Diagnostics. J&J chairman and CEO Alex Gorsky revealed during a fourth-quarter earnings call that J&J, based in Raritan, N.J., was considering strategic options that could include a divestiture of Ortho-Clinical Diagnostics. A spinoff of the $2.1 billion unit might also be considered, he said.
 
Ortho-Clinical Diagnostics ranked 23nd on the Rochester Business Journal's most recent list of private-sector employers with a local workforce of 1,130 people.
 
(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google