As part of J&J's de-diversifying, it is selling its Advanced Sterilization Products (ASP) business to Fortive Corportion (a Danaher spinout)


Fortive Corporation, a $6.86b diversified conglomerate spinout from Danaher,  is acquiring Johnson & Johnson's Advanced Sterilization Products (ASP) business for $2.8b. ASP provides sterilization and disinfection systems and low-temperature hydrogen peroxide sterilization technology. ASP’s products include the STERRAD system for sterilizing instruments, EVOTECH and ENDOCLENS systems for endoscope reprocessing and cleaning. JNJ sold approximately $2.1b of both units. Last year, JNJ acquired Actelion for $30b to strengthen its presence in the rare diseases market. This deal is the latest in a string of J&J’s action to streamline its portfolio after a review of its over-the-counter drugs, diabetes care and some of its medical device products.  Other divestitures include:

  • 2017 – the sale of its Codman Neurosurgery business to Integra LifeSciences for $1.05b
  • 2015 – the sale of its Cordis Vascular Technology unit to Cardinal Health for $1.9b.
  • 2014 – the sale of Ortho-Clinical Diagnostics to Carlyle for $4.15b.

Keywords: Healthcare Investment Banking, Healthcare M&A, Healthcare mergers