updated - June 5, 2020 Friday EDT
Johnson and Johnson's ortho-clinical diagnostics division now officially belongs to the Carlyle Group after the company consented to obtain it Monday for $4 billion a press release reported.
Carlyle made its proposal for the blood service entity in January, and was agreed to after several sessions with work councils, and trade unions. The next step in the process is the deal's closure, scheduled for 2014's halfway point.
"Ortho-Clinical Diagnostics is an established global brand with a reputation for quality and innovation. Through accelerated investment in research and product development and continued expansion into both emerging and established markets, we expect to tap into rising demand for sophisticated medical diagnostic products and services worldwide," Stephen Wise, managing director at the Carlyle Group said in a statement when the deal was first initiated in January.
According to The Wall Street Journal, the ortho-clinical diagnostics service has vitro diagnostic products which can sense diseases, conditions, and infection the United States Food and Drug Administration reported on their website. The examinations are also utilized in labs, and medical professional environments, along with at home.
The entity also includes donor screenings for transfusions or the process of transferring blood into a vein or artery according to the Merriam-Webster dictionary definition, and products that match a person's blood types.
"We are excited to work with Carlyle and believe OCD will be well-positioned as an independent company focused exclusively on the in vitro diagnostics market. In combination with Carlyle's global reach and deep experience in the healthcare sector, OCD will have the opportunity to invest in new, innovative products and services for its customers and provide an environment for its professionals to excel in a competitive global marketplace," Eric Compton, world-wide president of Ortho-Clinical Diagnostics said in a statement.
Johnson and Johnson manufactures prescription drugs, medical devices, band aids, and listerine.
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