J&J to divest Ethicon unit's wound-care business

07/1/2008 | Wall Street Journal, The

Johnson & Johnson has given One Equity Partners, a private-equity unit of JPMorgan Chase, exclusive negotiating rights for the wound-care operations of its Ethicon unit for an undisclosed amount. The sale, which may be worth nearly $950 million, comes after a company evaluation of business priorities, Ethicon Chairman Alex Gorsky said.

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