J&J to Sell Ortho Unit to Carlyle for $4B

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Jan. 15 (Bloomberg) –- Bloomberg's Olivia Sterns reports on Carlyle's purchase of Johnson & Johnson's Ortho Unit on Bloomberg Television's "Street Smart." (Source: Bloomberg)

Sterns has more.

Johnson & johnson is selling ortho clinical diagnostics unit to carlisle, the private equity group, for $4 billion.

Carlisle plans to operate ortho clinical diagnostics as a standalone company.

The rest of it will be in cash.

Ortho is a company that makes diagnostic equipment that tests blood for everything from cholesterol to fertility hormones.

Interestingly, in this deal, there were three deals -- there were three hitters.

According to this person, three final offers made, one from carlisle.

That is the one the one -- that is the one that won.

There was one from cvc capital partners and leonard green partners.

I was speaking with someone from glasco -- from glaxosmithkline.

He said this is exactly what he expects to see happening, the vesting off older units and slimming down.

Is interesting because buying is not what we see private equity firms doing lately.

In the last year, they have been in the selling mode.

So it'll be interesting to see a big buyout of carlisle to start off the air with blackstone.

We will be back with more with john scully.

You are watching the 3:00 p.m. hour of "street smart "

This text has been automatically generated. It may not be 100% accurate.

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