Fortive Corporation completed the acquisition of the Advanced Sterilization Products business from Ethicon, Inc., a subsidiary of Johnson & Johnson
1 April 2019 – Fortive Corporation (NYSE: FTV) announced today that it has completed the acquisition of the Advanced Sterilization Products (“ASP”) business from Ethicon, Inc., a subsidiary of Johnson & Johnson, for approximately USD 2.7 billion in cash.
ASP is a leading global provider of innovative sterilization and disinfection solutions, and a pioneer of low-temperature hydrogen peroxide sterilization technology. ASP supports healthcare facilities in the fight to protect patients against hospital-acquired infections, which are a leading cause of morbidity and mortality. ASP’s products, which are sold globally, include the STERRAD system for sterilizing instruments and the EVOTECH and ENDOCLENS systems for endoscope reprocessing and cleaning. In 2018, ASP generated net revenue of approximately USD 800 million.
Walder Wyss advised Fortive Corporation in this transaction. The Walder Wyss team was led by Martin Busenhart (Partner, Tax) and Dominik Hohler (Counsel, Transaction/Reorganisation) and included Luciano Schmid (Associate, Tax), Ursina Gremminger (Associate, Tax), Jenny Süess (Associate, Transaction/M&A) and Alice Vorburger (Associate, Transaction/M&A).