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Ethicon to divest professional wound care biz

This article was originally published in The Gray Sheet

Executive Summary

Johnson & Johnson's Ethicon unit is in exclusive negotiations with investment firm One Equity Partners for the sale of Ethicon's professional wound care business, which generated sales of $270 million in 2007, J&J says July 1. The move follows a competitive bidding process and is part of Ethicon's strategy to focus on growth priorities in biosurgicals, wound closure and women's health, the firm explains. The wound care segment makes active healing products for professional use (hospitals and clinicians), as well as general wound care products such as gauzes and swabs. Revenue drivers include its Promogran matrix wound dressing, Tielle hydropolymer dressing and Regranex (becaplermin) gel for lower extremity diabetic ulcers, according to Ethicon. The business, with 630 employees, contributed 7.5% of Ethicon's total 2007 sales of $3.59 billion. The acceptance period for the purchase offer is slated to conclude Aug. 22
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