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Johnson & Johnson (JNJ) Kicks Off $5 Billion Clinical Diagnostics Unit Sale



9/9/2013 7:21:44 AM

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Johnson & Johnson has launched a sale process for its Ortho Clinical Diagnostics unit, which makes blood screening equipment and laboratory blood tests and could fetch around $5 billion, three people familiar with the matter said on Friday. J&J has asked JPMorgan Chase & Co to run the sale and is preparing to send detailed financial information in coming weeks to potential buyers, including some of the world's largest private equity firms and a number of healthcare companies, the people said. Early estimates suggest the unit's earnings before interest, tax, depreciation and amortization are between $400 million and $500 million, suggesting a possible valuation of roughly $5 billion, the people said.

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