NEW BRUNSWICK (dpa-AFX) - Johnson & Johnson (JNJ) announced intent to separate its Orthopaedics business. The transaction would establish a standalone orthopaedics business, operating as DePuy Synthes. Johnson & Johnson expects that the separation would increase its top-line growth and operating margins. The company is targeting completion within 18 to 24 months.
'This transaction enables Johnson & Johnson to further strengthen its focus and investment toward higher-growth areas where we can meaningfully extend and improve patient lives,' said Joaquin Duato, Chairman and CEO, Johnson & Johnson.
The company also announced that Namal Nawana has been appointed to serve as Worldwide President, DePuy Synthes, effective immediately. Nawana will lead the business through the separation process. Nawana most recently served as Executive Chairman and Founder of Sapphiros, a privately-held platform company.
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