US buyout giant Carlyle has emerged as the favourite to buy Johnson & Johnson’s diagnostics unit Ortho Clinical for $4bn in the face of competition from other private equity players.
Carlyle has entered exclusive talks for the asset according to Bloomberg, which cited four people familiar with the matter.
It said the firm had prevailed over a rival bid from Blackstone Group in partnership with healthcare and industrial conglomerate Danaher.
Bain Capital, BC Partners and the pairing of Leonard Green & Partners and CVC Capital were also previously said to be interested in buying the arm.
J&J received preliminary offers for Ortho in September and initially hoped to make as much as $5bn from the sale.
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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