J&J considers buyout offer for wound care unit

The unit, part of J&J's Ethicon division, had sales of $270 million in 2007.

Under the deal, One Equity Partners would acquire a portfolio of products which include Promogran Matrix wound dressing, Tielle Hydropolymer Dressing, and Regranex gel, a prescription treatment for lower extremity diabetic ulcers. Along with a portfolio of general wound care products, One Equity Partners would get a research, development and manufacturing facility in Gargrave, England.

One Equity, established in 2001, manages $8 billion of investments and commitments for JP Morgan Chase & Co. in direct private equity, J&J said. All 800 employees in the unit would be expected to transfer with the business, the company said.

The acceptance period for the offer ends Aug. 22.

Shares of J&J rose 14 cents to $64.48 in morning trading.