Price range: Up to $5 billion
The scoop: Johnson & Johnson ($JNJ) just isn't getting the growth it wants out of a business that pulled in $2.2 billion last year. The healthcare giant has struggled to expand its in-vitro-focused testing arm, watching as revenue slipped 6% to $483 million last quarter. Competitors like Roche ($RHHBY) have made deeper forays into molecular diagnostics, more of an in-demand space, leaving J&J and its fleet of blood screens behind. Back in January, CEO Alex Gorsky said the company would take a look at strategic alternatives for the business, part of a cross-cutting effort to drive growth in its med tech division, and J&J may have a deal in hand by year's end.
Who wants it? According to recent rumor, a who's who of private equity giants has bid on J&J's diagnostics business, including Blackstone, Bain, Carlyle and the suddenly healthcare-obsessed KKR. Earlier reports had diagnostics heavyweights like Roche, Abbott Laboratories ($ABT) and Danaher ($DHR) taking a look at Ortho Clinical, but little has come of that.
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