Fortive Completes Acquisition of Advanced Sterilization Products Business from Johnson & Johnson

Fortive Corporation ("Fortive") (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 $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 $800 million.

James A. Lico, President and Chief Executive Officer, stated, “We are extremely excited to welcome ASP to the Fortive family. The acquisition of ASP demonstrates our increased commitment to enhancing the safe operation of hospitals and healthcare facilities worldwide. We are confident that the addition of ASP to the Fortive portfolio will generate compelling value for ASP and its customers, as well as our shareholders.”

Fortive will discuss the acquisition of ASP during its scheduled quarterly earnings call on April 25, 2019.