Aug 28 Johnson & Johnson plans to seek a
buyer for its medical device maker business, Cordis Corp, The
Wall Street Journal reported citing people familiar with the
The sale of Cordis could fetch between $1.5 billion and $2
billion, one of the people told the Journal, adding that the
sales process for the business was still at an early stage.
When contacted, J&J declined to comment on the matter.
Bridgewater, New Jersey based Cordis manufactures treatments
for vascular disease including stents and catheters. It has a
workforce of about 5000 employees.
Earlier this year, J&J sold another of its units,
Ortho-Clinical Diagnostics Inc to private-equity firm Carlyle
Group for $4.15 billion.
Analysts had pointed out at that time that the move
highlighted J&J's determination not to waste resources on
Other eminent deal talks in the medical device sector in
recent times include Medtronic Inc's $43 billion bid for
Covidien Plc, while Zimmer Holding Inc agreed to
acquire Biomet Inc for about $13 billion.
(Reporting By Amrutha Penumudi in Bangalore; Editing by David