JNJ Eyes Sale or Spin-Off of Orthopedics Business Unit for Nearly $20 Billion
Johnson & Johnson is exploring multiple paths for its orthopedics business unit DePuy Synthes, including a potential sale to Apollo Global Management or a spin-off as a standalone publicly listed company.
The deal could value the business at nearly $20 billion, with negotiations expected to be completed within the coming weeks.
DePuy Synthes primarily manufactures joint implants and surgical instruments, generating $9.3 billion in revenue in 2025 but with only 1.1% year-over-year growth.
This slower growth rate may have contributed to the company's consideration of a sale or spin-off, as Johnson & Johnson focuses on faster-growing healthcare segments.
Johnson & Johnson has already begun the process of spinning off DePuy Synthes and expects no major updates before mid-2026.