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Private equity firms bid for Johnson & Johnson’s Ortho Clinical Diagnostics unit

1 Oct 2013

blood cells_sqJohnson & Johnson has reportedly received private equity offers for its Ortho Clinical Diagnostics unit, which could be valued at as much as $5bn in a deal.

Blackstone, KKR, Bain Capital, Carlyle and BC Partners were among the firms that submitted first round bids last week, said Reuters, citing people familiar with the matter.

The firms expect to hear back this week on who made the shortlist, said the people. TPG is not interested in acquiring the unit after buying blood testing products provider Immucor for nearly $2bn in 2011, according to the sources.

J&J said it would explore strategic options for Ortho Clinical Diagnostics in January and hired JP Morgan Chase to manage the sale, Reuters said in September.

Earlier this year J&J teamed up with Index Ventures and GlaxoSmithKline to launch a €150m fund focused on the life sciences sector.

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