As part of its move to divest non-core assets, Johnson & Johnson is reportedly seeking buyers for its sterilization products division, according to Bloomberg.
Here are four things to know.
1. J&J is working with an advisor to solicit bids for the sterilization unit, which could be sold for as much as $2 billion, according to people familiar with the matter. Bids for the unit are due this week.
2. The sterilization unit, which is known as ASP, is drawing interest from strategic buyers and private equity firms. ASP makes systems and solutions to clean medical equipment. Its products are sold globally.
3. J&J's proposed divesture of its sterilization products division is part of its move to streamline its portfolio by focusing on its core assets. In 2017, J&J inked a deal to sell Compeed, its blister and lip-care treatment, to HRA Pharma.
4. No final decision has been made and J&J may choose not to sell the division at all, people familiar with the matter warned, according to the report.