Global alternative asset manager The Carlyle Group (NASDAQ:CG) completed the previously announced acquisition of Ortho-Clinical Diagnostics, Inc. (OCD) for approximately $4 billion. OCD, formerly a subsidiary of Johnson & Johnson, is a global provider of solutions for screening, diagnosing, monitoring and confirming diseases.
Stephen H. Wise, Carlyle Managing Director, said, “As a free-standing company with new leadership and accelerated investment in R&D, OCD is well positioned to tap into rising demand for sophisticated medical diagnostic products and services worldwide. We have assembled a remarkable senior management team, led by Dr. Martin D. Madaus, and we look forward to partnering with him in the years to come.”
“We are excited to lead OCD into a new era with a renewed focus on differentiated innovation that targets customer needs,” said OCD Chairman and Chief Executive Officer Dr. Madaus. “Through targeted reinvestment, and the addition of an executive leadership team with significant diagnostics industry and management experience, we see tremendous opportunity to transform OCD into a leading global player.”
Dr. Madaus, who assumes his leadership roles at OCD beginning today, has more than 25 years of experience in the diagnostics and life science industries, and a consistent track record of growing businesses. Dr. Madaus was most recently Executive Chairman of the Quanterix Board of Directors and previously served as President, Chairman and Chief Executive Officer of Millipore Corp. Before joining Millipore, Dr. Madaus was President, Chief Executive Officer and Head of North American Operations for Roche Diagnostics Corp.
Dr. Madaus is a director of Mettler Toledo and previously a director of Carlyle portfolio company PPD and Covidien. He has a doctor of veterinary medicine degree from the University of Munich, Germany and a doctorate in veterinary medicine from the Veterinary School of Hanover, Germany.
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About Ortho-Clinical Diagnostics, Inc.
Ortho-Clinical Diagnostics, Inc. delivers the high-quality in vitro diagnostic products that give healthcare professionals around the world the knowledge they need to make better treatment decisions sooner. The company serves the global transfusion medicine community with donor screening and blood typing products to help ensure every patient receives blood that is safe, the right type and the right unit. Ortho-Clinical Diagnostics, Inc. also brings sophisticated information management, testing technologies and automation and interpretation tools to clinical laboratories worldwide to help them run more efficiently and improve patient care. For more information, visit www.orthoclinical.com
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with approximately $199 billion of assets under management across 120 funds and 133 fund of funds vehicles as of March 31, 2014. Carlyle's purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,600 people in 38 offices across six continents.