Below is a statement from the Devicor website, so it appears their business acquiring and growing healthcare companies. The article also mentions below that J and J had been somewhat shopping for a buyer. We have more private equity firms growing into healthcare.
“Devicor™ Medical Products, Inc., is a fast-growing global company dedicated to acquiring and growing healthcare companies that provide important medical technologies used by clinicians worldwide to improve patient experiences and outcomes.”
In January the Johnson and Johnson had also halted their clinical trials for their molecular lab test that was to help determine and predict whether or not patient lymph nodes should be removed during the first surgery and not having a second.
The offer stands until June and is expected to be complete by the 3rd quarter. BD
A Johnson & Johnson unit received an offer from private-equity firm GTCR Golder Rauner LLC for its breast-care business.
The unit has been exploring a possible sale of the division to focus on areas with higher growth potential.
J&J is among those in the drug industry that have been streamlining amid increasing regulatory hurdles for drug approvals and rising development costs. The giant health-care products maker has also been hurt by generic competition for some of its big-selling prescription drugs.
The "irrevocable, unconditional" offer, by GTCR's Devicor unit for an undisclosed amount, is for the Ethicon Endo-Surgery Inc. division, which sells products designed to help diagnose breast cancer in its early states. The division's products include breast-biopsy and tissue markers as well as marketing and distribution rights for the division's Neoprobe gamma detection systems.