Latest Medtech News
Johnson & Johnson MedTech is reportedly in talks with Apollo Global Management about selling all or part of its DePuy Synthes orthopedics business, according to media reports citing anonymous sources. Bloomberg reported discussions covering the broader orthopedics unit, while The Wall Street Journal specified the hips and knees business, with a potential deal valued at around $20 billion. J&J has not confirmed the reports.
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The talks follow J&J's announcement in late 2025 of plans to separate DePuy Synthes entirely, with a target completion by mid-2027. DePuy Synthes generated $9.3 billion in 2025 revenue, more than a quarter of J&J MedTech's $33.8 billion total, but has been the segment's slowest-growing business, with sales up just 1.1% year-over-year most recently. That contrasts with J&J MedTech's cardiovascular business, which grew 8.3% in the first half of 2026 following major acquisitions including Shockwave Medical ($13.1 billion, 2024) and Abiomed ($16.6 billion, 2022).
If completed, a deal would extend a broader pattern of private equity firms moving deeper into MedTech, following GTCR's divestiture of Corza Medical's Biosurgery unit, ResMed's planned sale of MatrixCare to Frazier Healthcare Partners, KKR's pending $5.7 billion acquisition of Integer, and Hologic's earlier $18.3 billion go-private transaction. For J&J, a sale would let the company complete its planned orthopedics separation through an outright divestiture rather than a spinoff, while further sharpening its focus on faster-growing categories like cardiovascular and surgery.
