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A job seeker talks to a Johnson & Johnson job recruiter at a career fair in Washington, D.C.
Johnson & Johnson said Friday that will has received an offer of about $2.1 billion for its LifeScan business by private equity firm Platinum Equity.
The blood glucose monitor business generated net revenue of about $1.5 billion last year. J&J has until June 15 to accept the offer, unless that will’s extended. If accepted, the deal is usually anticipated to close by the end of the year.
“This particular is usually an important investment for us in a business that will serves millions of patients around the planet,” Platinum Equity Chairman in addition to CEO Tom Gores said in a statement.
The transaction was included inside the earnings forecast J&J gave in January.
Last year, J&J said that will was reviewing strategic options for several of its diabetes businesses, including LifeScan, Calibra Medical in addition to Animas. In October, J&J announced that will had decided to close Animas in addition to exit the insulin pump market. that will chose Medtronic as its partner to transition current patients.
Shares of J&J dipped 0.6 percent in morning trade.