Navigation Links
ETHICON Completes Divestiture of Professional Wound Care Business to One Equity Partners
Date:12/1/2008

SOMERVILLE, N.J., Dec. 1 /PRNewswire/ --ETHICON, Inc., a Johnson & Johnson company, announced today that it has completed the divestiture of its Professional Wound Care business to One Equity Partners. Financial terms of the transaction are not being disclosed.

Under the terms of the transaction, One Equity Partners has acquired the Professional Wound Care product portfolio, which contains such advanced wound care brands as PROMOGRAN Matrix Wound Dressing, TIELLE Hydropolymer Dressing and REGRANEX (becaplermin) Gel 0.01%, a prescription treatment for lower extremity diabetic ulcers, as well as a portfolio of general wound care products. Also included in the transaction is the transfer of the R&D and manufacturing facility in Gargrave, England. The Professional Wound Care business generated annual net sales of approximately $270 million in 2007.

The professional wound care product portfolio will be marketed and distributed by Systagenix Wound Management, a new company created by One Equity Partners. Approximately 700 employees/contractors supporting the business will transfer to the new company.

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 promote active 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 One Equity Partners

Established in 2001, One Equity Partners manages $8 billion of investments and commitments for J.P. Morgan Chase & Co. in direct private equity transactions. Over recent years, One Equity Partners has invested approximately $3.5 billion to acquire over thirty companies in a variety of industries including defense, chemicals, healthcare, technology and manufacturing. One Equity Partners' investment professionals are located across North America, Europe and Asia, with offices in New York, Chicago, Menlo Park, Frankfurt and Hong Kong. Visit http://www.oneequity.com/ for more information.

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 & urology. For more information about ETHICON, please visit www.ethicon.com.

This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from Johnson & Johnson's expectations and projections. Risks and uncertainties include general industry conditions and competition; economic conditions, such as interest rate and currency exchange rate fluctuations; technological advances and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approvals; domestic and foreign health care reforms and governmental laws and regulations; and trends toward health care cost containment. A further list and description of these risks, uncertainties and other factors can be found in Exhibit 99 of the Company's Annual Report on Form 10-K for the fiscal year ended December 30, 2007. Copies of this Form 10-K, as well as subsequent filings, are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Johnson & Johnson does not undertake to update any forward-looking statements as a result of new information or future events or developments.)


'/>"/>
SOURCE ETHICON, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. ETHICON Receives Offer from One Equity Partners to Purchase Professional Wound Care Business
2. Ethicon Endo-Surgery Submits Application to FDA for Approval of the SEDASYS(TM) System - the First Computer-Assisted Personalized Sedation System
3. The Hanover Insurance Group Completes Acquisition of AIX Holdings, Inc.
4. Doc to Dock Completes Maternal Health Wing at Kumasi South Regional Hospital in Ghana
5. Triathlete Michael Hennessey Completes 15th Ironman Competition
6. Lilly Completes Acquisition of ImClone Systems
7. California Drug Rehab Facility Completes Comprehensive Remodeling Project
8. Escalon(R) Medical Corp. Completes $1.1 Million Private Equity Financing
9. Neuromed Completes Enrollment for Phase 3 Chronic Low Back Pain Clinical Trial of NMED-1077
10. Ashland Completes Acquisition of Hercules
11. Conseco Completes Transfer of Senior Health Insurance Company of Pennsylvania to Independent Trust
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/22/2017)... ... September 22, 2017 , ... Global ... diseases through research, education and awareness, today announced the appointment of Timothy J. ... microbiologist, Dr. Sellati has more than 20 years of research experience with Lyme ...
(Date:9/21/2017)... ... September 21, 2017 , ... SABRE is raising awareness about personal ... to the end of November. , The Chicago, Illinois, based self-defense brand has been ... them about the ease of taking their personal safety into their own hands. , ...
(Date:9/21/2017)... Virginia (PRWEB) , ... September 21, 2017 , ... ... health in their communities, nine governmental public health departments have been awarded five-year ... accreditation decisions mean that the benefits of being served by a PHAB-accredited ...
(Date:9/21/2017)... ... September 21, 2017 , ... The New England Center for Children® ... the election of Yie-Hsin Hung to the Board of Directors. , “The New ... Directors. Ms. Hung is an invaluable addition to our team,” said Vincent Strully, Jr., ...
(Date:9/21/2017)... ... ... FlipBelt, the fitness brand that specializes in problem solving fitness accessories, has ... the launch of their FlipBelt Crops. , The new fitness bottoms feature an integrated ... at the gym, on the trail, or on-the-go. , “We always thought the FlipBelt ...
Breaking Medicine News(10 mins):
(Date:9/9/2017)... Sept. 8, 2017 Dealmed Medical Supplies, ... of medical equipment, supplies, drugs, vaccines, and specialty medical ... into an agreement to acquire Vantage Medical Supplies, a ... Holtsville, New York . ... new and emerging medical practices, will operate under the ...
(Date:9/7/2017)... Sept. 7, 2017  Eli Lilly and Company ... to streamline operations to more efficiently focus resources ... cost structure. Global workforce reductions, including those from ... to impact approximately 3,500 positions. ... annualized savings of approximately $500 million that will ...
(Date:9/7/2017)... , Sept. 7, 2017 Caris ... focused on fulfilling the promise of precision medicine, ... validate the benefits of its molecular profiling approach ... utilized comprehensive genomic profiling plus (CGP+) with Caris ... patient,s tumor on a molecular level, leading to ...
Breaking Medicine Technology: