New Brunswick, N.J., April 1, 2019 — Johnson & Johnson (NYSE: JNJ) today announced that it has completed the divestiture of its Advanced Sterilization Products (ASP) business, a division of Ethicon, Inc.*, to Fortive Corporation (NYSE: FTV) for an aggregate value of approximately $2.8 billion, consisting of $2.7 billion of cash proceeds from Fortive Corporation and $0.1 billion of retained net receivables. ASP is a global leader in innovative infection prevention solutions with 2018 net revenue of approximately $800 million.
ASP supports healthcare facilities in the fight to protect patients against hospital-acquired infections, which are a leading cause of morbidity and mortality. ASP solutions include capital, consumables and software for use in Low-Temperature Terminal Sterilization and High-Level Disinfection of reusable surgical instruments.
Johnson & Johnson will discuss this transaction during its scheduled quarterly earnings call on April 16, 2019.