J&J disinvest ASP business to Fortive Corporation for $2.8 billion

Johnson & Johnson announced that it has completed the divestiture of its advanced sterilization products (ASP) business, a division of Ethicon, Inc., to Fortive Corporation for an aggregate value of approximately $2.8 billion, consisting of $2.7 billion of cash proceeds from Fortive Corporation and $0.1 billion of retained net receivables. ASP is a global leader in innovative infection prevention solutions with 2018 net revenue of approximately $800 million.

ASP supports healthcare facilities in the fight to protect patients against hospital-acquired infections, which are a leading cause of morbidity and mortality. ASP solutions include capital, consumables and software for use in low-temperature terminal sterilization and high-level disinfection of reusable surgical instruments.

Johnson & Johnson will discuss this transaction during its scheduled quarterly earnings call on April 16, 2019.

Ethicon, part of Johnson & Johnson Medical Devices Companies, has made significant contributions to surgery for more than 100 years from creating the first sutures, to revolutionizing surgery with minimally invasive procedures.