Johnson & Johnson intends to separate its orthopedics business, for strategic and operational reasons, the company said.
The transaction will establish a standalone orthopedics business, operating as DePuy Synthes, within the next 18 to 24 months. Upon completion of the separation, DePuy Synthes would be the largest, most comprehensive orthopedics-focused company, with leading market share positions across major product categories.
J&J will retain a leadership position in six key growth areas across its Innovative Medicine and MedTech segments — oncology, immunology, neuroscience, cardiovascular, surgery and vision.
The company also announced that Namal Nawana has been appointed to serve as worldwide president of DePuy Synthes, effective immediately.