ETHICON receives offer from One Equity Partners
One Equity Partners (OEP) has made an offer to acquire the Professional Wound Care business from ETHICON, a Johnson & Johnson company.
OEP will acquire the Professional Wound Care product portfolio which includes brands such as PROMOGRAN® Matrix Wound Dressing, TIELLER® Hydropolymer Dressing and REGRANEX® (becaplermin) Gel 0.01%, a prescription treatment for lower extremity diabetic ulcers.
The acceptance period for the offer will end on August 22, 2008. If the offer is accepted by ETHICON, the proposed transaction will be subject to the receipt of anti-trust clearances and regulatory approvals. Once such approvals have been received, the transaction is expected to close in late 2008.
Dick Cashin, Managing Partner of OEP, said that “One Equity Partners is excited about the prospect of working with ETHICON on this important transaction. Long-term global demographics point to sustainable growth in the wound care market in developed and developing countries and the Professional Wound Care business of ETHICON is a strong platform from which we can build. One Equity Partners is committed to providing the necessary resources to support the business’ continued growth and expansion.”
About the Professional Wound Care Business
The Professional Wound Care business comprises both advanced wound care and general wound care products. The advanced wound care products are used to actively promote wound healing, control infection and help maintain a moist wound-healing environment. The general wound care products are primarily inert dressings, such as gauzes and swabs used to clean, absorb, and protect internal and external tissue.
About ETHICON, Inc.
ETHICON, Inc., a Johnson & Johnson company, is a global medical device company that develops and markets surgical products for use in general surgery, wound management and women’s health and urology.