Johnson & Johnson Looks To Sell Diagnostics Unit

Johnson & Johnson (NYSE:JNJ) is readying financial information and legal forms in order to sell one of its diagnostics businesses. Dow Jones reported that the diversified healthcare company has JPMorgan Chase & Co (NYSE:JPM) advising it on the sale, and the business could fetch as much as $5 billion.

Ortho Clinical Diagnostics, the business in question, works in two primary markets, screening for blood transfusions and clinical laboratories. The company’s guiding focus is the early detection of disease in patients. The company was formed in 1997 after a merger between two members...