J&J Is In Talks to Sell Its Hips-and-Knees Business to Apollo for $20 Billion

Live updates

1. 1d ago

   J&J Weighs $20B Orthopedics Sale to Apollo

   Johnson & Johnson is engaged in discussions with Apollo Global Management to sell its DePuy Synthes orthopedics business in a transaction valued at nearly $20 billion. The potential divestiture of the medical device unit pushed Johnson & Johnson shares up 1.3% to $268.96 in premarket trading on Monday following reports from Bloomberg News citing people familiar with the matter. The orthopedics division generated $9.3 billion in revenue last year. Alternatively, the unit could be spun off as a public company, though specific deal terms remain unfinalized and negotiations are ongoing between the two companies.

   Why it matters

   The massive orthopedics unit has faced extensive legal challenges, including thousands of lawsuits tied to its hip replacement devices. Private equity interest highlights a major portfolio reshaping strategy for the healthcare conglomerate. Parties involved could reach a definitive agreement within several weeks.

   What is confirmed

   • Johnson & Johnson shares rose 1.3% to $268.96 in premarket trading on Monday after reports emerged of the talks.
   • The orthopedics division generated $9.3 billion in revenue in 2025.
   • Apollo Global Management is in discussions to acquire the DePuy Synthes orthopedics unit for nearly $20 billion.

   Still unconfirmed

   • The parties could reach a definitive agreement within several weeks.
   • The DePuy Synthes unit could also be spun off as a public company.

   What to watch next

   • A definitive agreement announcement between Johnson & Johnson and Apollo Global Management
   • Official confirmation of whether DePuy Synthes will be sold or pursued as a public spin-off
   Sources used for this update (4)

   1. Investing.com — Johnson & Johnson shares rise on Apollo Global takeover talks
   2. finance.yahoo.com — J&J in talks to sell DePuy Synthes to Apollo for $20 billion
   3. www.tradingpedia.com — Apollo Talks Boost J&J Shares on Ortho Sale Prospects
   4. grafa.com — J&J explores $20B DePuy Synthes sale to Apollo
   confidence 95%
2. 2d ago

   J&J Discusses $20 Billion Sale of Orthopedics to Apollo

   Johnson & Johnson is engaged in discussions to sell its hips-and-knees orthopedics business to Apollo Global Management in a transaction valued at $20 billion. The potential divestiture involves the medical device giant's major orthopedic unit, drawing interest from private equity. Financial markets reacted to the reports in after-hours trading, pushing shares of Johnson & Johnson up slightly following the news of the talks. Negotiations remain ongoing between the companies, and specific deal terms have not yet been finalized.

   Why it matters

   Johnson & Johnson has been continuously evaluating its portfolio to focus on higher-growth pharmaceutical and medical technology sectors. A potential sale of the orthopedics division for $20 billion represents one of the largest corporate divestitures in the healthcare sector. Apollo Global Management has targeted large-scale corporate carve-outs as part of its recent acquisition strategy.

   What is confirmed

   • Johnson & Johnson is in talks to sell its orthopedics unit to Apollo Global Management.
   • The potential transaction value is $20 billion.
   • Johnson & Johnson stock edged up after-hours following reports of the talks.

   What to watch next

   • Confirmation of a finalized purchase agreement between Johnson & Johnson and Apollo Global Management.
   • Official announcements regarding the exact structure and financing of the $20 billion transaction.
   Sources used for this update (5)

   1. Reuters — J&J orthopedics unit draws Apollo interest in potential $20 billion deal, Bloomberg News reports
   2. Bloomberg.com — Apollo Global Is Said in Talks to Acquire J&J’s Orthopedics Unit
   3. WSJ — J&J Is In Talks to Sell Its Hips-and-Knees Business to Apollo for $20 Billion
   4. Yahoo Finance — JNJ Stock Edges Up After-Hours On Apollo’s $20B Orthopedics Talks
   5. Seeking Alpha — Apollo in talks to acquire J&J’s orthopedics unit - Bloomberg (JNJ:NYSE)
   confidence 100%