Johnson & Johnson Prepares $20–28B DePuy Synthes Sale, Drops Diversity Criteria
Johnson & Johnson is preparing financial materials for sale of its DePuy Synthes orthopedics unit, acquired for $21.3B in 2011 with $9.3B in annual sales, and valued by bids at $20–28B, targeting separation within 18–24 months. The company has removed formal board diversity selection criteria alongside major peers.
1. Sale Preparation and Timeline
Johnson & Johnson is preparing financial materials to present to potential buyers over coming weeks as it advances plans to separate DePuy Synthes within 18–24 months through a sale or other transaction.
2. Unit Valuation and Interest
DePuy Synthes, acquired for $21.3B in 2011, generated $9.3B in sales and is estimated to be worth $20–28B including debt, attracting interest from large private equity firms and strategic medical device players.
3. Board Diversity Policy Reversal
The company has removed formal diversity selection criteria for its board, joining peers like American Express and Deere in response to shareholder activism and evolving governance priorities.