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J&J Reportedly Explores Sale Of $2 Bln Sterilization Division

Johnson & Johnson (JNJ) is seeking buyers for its sterilization products division, as the health-care conglomerate continues to sell off non-core assets, Bloomberg reported citing people familiar with the matter.

J&J is working with an adviser to solicit bids for the unit, which could fetch as much as $2 billion, the report said. The asset is drawing interest from strategic buyers as well as private equity firms, the people said. Bids are due this week.

No final decision has been made and J&J may choose not to divest the division, the report said.

The advanced sterilization products unit, known as ASP, makes systems and solutions to clean medical tools. Its products, which are sold globally, include the Sterrad system for sterilizing instruments and Cidex OPA solution for disinfecting scopes.

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