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news.Ethicon, a Johnson & Johnson company and developer of sutures and wound-closure products, has completed the divestiture of its professional wound care business to One Equity Partners, an equity investment firm. Financial terms of the transaction were not disclosed.
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Under the terms of the transaction, One Equity Partners has acquired the professional wound care product portfolio containing advanced wound care brands such as Promogran matrix wound dressing, Tielle hydropolymer dressing and Regranex (becaplermin) Gel 0.01%, a prescription treatment for lower extremity diabetic ulcers, as well as a portfolio of general wound care products.
Also included in the transaction is the transfer of the R&D and manufacturing facility in Gargrave, England. The professional wound care product portfolio will be marketed and distributed by Systagenix Wound Management, a new company created by One Equity Partners. Approximately 700 employees supporting the business will transfer to the new company.