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J&J accepts binding offer from Carlyle Group for diagnostic unit

Johnson & Johnson has accepted the binding offer from The Carlyle Group, which was received and announced on January 16, 2014, to acquire its Ortho-Clinical Diagnostics business for approximately $4bn, subject to customary adjustments.

This acceptance was made after consultation with the relevant works councils and trade unions.

The transaction is subject to customary regulatory approvals and is slated to close in the middle of 2014.

With this acquisition, Carlyle plans to tap into emerging and established markets and make accelerated investments in research and product development.

Provider of solutions for screening, diagnosing, monitoring and confirming diseases, OCD, is headquartered in Raritan, New Jersey, with manufacturing operations in Rochester, New York, Pompano Beach, Florida and Pencoed, Wales.

It operates in 130 countries and serves clinical laboratories and the transfusion medicine community globally.

Johnson & Johnson will discuss any updates during its scheduled quarterly earnings call on April 15, 2014.