Global alternative asset manager The
Carlyle Group (NASDAQ:CG) has agreed to acquire Johnson & Johnson’s
Ortho-Clinical Diagnostics (OCD) business, a global provider of
solutions for screening, diagnosing, monitoring and confirming diseases,
for $4.15 billion. The transaction is subject to customary regulatory
approvals and is expected to close in the middle of 2014.
Stephen H. Wise, Managing Director of The Carlyle Group, said,
“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. We
have been focused on the diagnostics industry for many years given its
attractive growth prospects, driven by the crucial role it plays in
health care decision-making and influencing patient outcomes. We believe
that OCD, with its world class employee base and talented management
team, is poised for the next level of success.”
Eric Compton, Worldwide President, Ortho-Clinical Diagnostics, said, “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.”
Headquartered in Raritan, NJ, with manufacturing operations in
Rochester, NY, Pompano Beach, FL and Pencoed, Wales, OCD operates in 130
countries. OCD serves clinical laboratories and the transfusion medicine
community around the world. The company is a provider of total solutions
for early screening, diagnosing, monitoring and confirming diseases,
focused on supporting hospitals, laboratories and blood centers
worldwide.
Equity for the transaction comes from Carlyle Partners VI, a $13 billion
U.S. Buyout fund, which completed fundraising in November 2013 with two
hundred sixty-nine investors from 43 countries.
Since inception, Carlyle has invested $6.3 billion of equity in
healthcare transactions around the globe. Current and former investments
include: Pharmaceutical Product Development (PPD), Grupo Qualicorp,
Healthscope Limited, HCR ManorCare and MultiPlan.
Barclays and Goldman Sachs are acting as financial advisors to The
Carlyle Group, which has secured committed debt financing from Barclays,
Goldman Sachs, Credit Suisse, UBS and Nomura. Latham & Watkins LLP is
acting as legal advisor to The Carlyle Group.
About Ortho-Clinical Diagnostics, Inc.
Ortho-Clinical Diagnostics, Inc. delivers the high-quality in vitro
diagnostic products that give healthcare professionals around the world
the knowledge they need to make better treatment decisions sooner. The
company serves the global transfusion medicine community with donor
screening and blood typing products to help ensure every patient
receives blood that is safe, the right type and the right unit.
Ortho-Clinical Diagnostics also brings sophisticated information
management, testing technologies and automation and interpretation tools
to clinical laboratories worldwide to help them run more efficiently and
improve patient care. For more information, visit www.orthoclinical.com
About The Carlyle Group
The Carlyle Group (NASDAQ:CG) is a global alternative asset manager with
$185 billion of assets under management across 122 funds and 81 fund of
funds vehicles as of September 30, 2013. Carlyle's purpose is to invest
wisely and create value on behalf of its investors, many of whom are
public pensions. Carlyle invests across four segments – Corporate
Private Equity, Real Assets, Global Market Strategies and Solutions – in
Africa, Asia, Australia, Europe, the Middle East, North America and
South America. Carlyle has expertise in various industries, including:
aerospace, defense & government services, consumer & retail, energy,
financial services, healthcare, industrial, technology & business
services, telecommunications & media and transportation. The Carlyle
Group employs more than 1,450 people in 34 offices across six continents.
Web: www.carlyle.com
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