Ethicon Endo-Surgery, a unit of Johnson & Johnson, has received an irrevocable, unconditional offer from Devicor Medical Products to acquire its breast care business that sells products designed to help doctors diagnose breast cancer at early stages. Financial terms of the offer are not being disclosed.
If the deal goes through, Devicor would acquire a product portfolio that is sold in more than 38 countries worldwide and includes the MAMMOTOME Breast Biopsy System and tissue markers--MammoMARK, MicroMARK and CoreMARK used for breast disease diagnostic sampling and management.
The acceptance period for the offer will end June 15, unless extended.
"Acquiring the EES Breast Care business would represent an exciting and long-term growth opportunity for Devicor," says Tom Daulton, CEO of Devicor, in a statement. "We fully recognize the talent and expertise of the more than 300 people that make up the Breast Care business, and we look forward to providing the necessary resources to further the development of innovative technologies and patient care."
Earlier this month, Daulton announced the company was actively seeking its first acquisition. Devicor was created in partnership with GTCR Golder Rauner, one of the nation's leading private equity firms, which initially committed $250 million of equity capital to support the company's growth strategy. "With our strong, available capital we are actively pursuing a strategic acquisition to serve as Devicor Medical Products's platform," Daulton said at the time.
- see the Ethicon release about the transaction
ALSO: Ethicon, J&J's surgical care unit, is notifying purchasers that unfinished product may have left the supply chain prior to sterilization. The unfinished product is labeled as NUROLON Nylon, product code C522D, lot number CAE 798 and PERMA-HAND Silk, product code C042D, lot number CAP716. Report