One Equity Partners has acquired the professional wound care business of Ethicon Inc., a Johnson & Johnson company. No financial terms were disclosed, except that the unit generated 2007 net sales of approximately $270 million.
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.