J&J Sells Ortho-Clinical for $4 Billion

03 July 2014

Giant healthcare conglomerate Johnson & Johnson has announced that it has completed the sale of its Ortho-Clinical Diagnostics (OCD) business to The Carlyle Group for approximately $4 billion.

In conjunction with the sale of OCD, Robert Yates will assume the newly-created position of Chief Operating Officer, and will report directly to incoming OCD chairman and CEO, Martin Madaus. Yates will also be appointed to OCD's board of directors.

"We are excited at the prospect of having Robert's diagnostics and executive leadership experience on board at OCD," said Stephen H. Wise, Carlyle managing director. “In partnership with Martin, Robert will contribute significantly to OCD's transformation into a global standalone diagnostics leader.” Madaus added, “Robert's strategic perspective and proven leadership abilities align well with OCD's new priorities of profitable growth and differentiated innovation for our customers and for patients around the world.”

Yates will join OCD from Merck KgaA, where he was President and CEO of EMD/Merck Millipore, its global life sciences division. At EMD Millipore, Yates finalized the complex transition of Millipore from a standalone company into one integrated, global Life Science division.

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