Johnson & Johnson looks to sell medical device business
Johnson & Johnson is seeking a buyer for its medical device maker business, Cordis, according to the Wall St Journal.
The sale of Cordis – which is still at an early stage - could fetch between $1.5 billion and $2 billion, a contact told the Journal.
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 to private-equity firm Carlyle Group for $4.15 billion.
When contacted, Johnson & Johnson declined to comment on the sale of Cordis.