Summary
Johnson & Johnson (JNJ) announced the completion of the divestiture of its Advanced Sterilization Products (ASP) business on April 1, 2019. The sale was made to Fortive Corporation for approximately $2.8 billion, comprising $2.7 billion in cash and $0.1 billion in retained net receivables. ASP, a leader in infection prevention solutions, generated about $800 million in net revenue in 2018. This strategic move likely aims to streamline JNJ's portfolio and focus on core growth areas.
Key Highlights
- 1Divestiture of Advanced Sterilization Products (ASP) business completed.
- 2Sale price of approximately $2.8 billion achieved.
- 3$2.7 billion in cash proceeds received from Fortive Corporation.
- 4$0.1 billion in retained net receivables included in the transaction value.
- 5ASP business had 2018 net revenue of approximately $800 million.
- 6The transaction is expected to allow JNJ to focus on its core businesses.
- 7Further details on the transaction will be discussed during the Q1 2019 earnings call on April 16, 2019.