Johnson & Johnson Looks To Offload Breast Implant Business, Once Again: Bloomberg

Johnson & Johnson JNJ is reportedly bringing back its plans to sell its breast implant unit, Mentor.
Bloomberg reported that the company is working with an adviser on a sales process. The business is expected to draw interest from private equity firms, according to one of the people.
J&J had started a sales process for Mentor last year but revoked plans due to uncertain market conditions in the early days of the coronavirus pandemic.
The business is a part of J&J’s medical devices unit and generates an annual EBITDA of $140 million, one of the people said. J&J spokesperson declined to comment to Bloomberg.
J&J had acquired Mentor in December 2008 for about $1.1 billion after it became the first device maker to win approval to reintroduce silicone implants.
Mentor has fended off several lawsuits claiming its breast implants ruptured or caused health problems.
In February, a U.S. appeals court ruled a group of plaintiffs failed to show wrongdoing by the company under federal law.
Price Action: JNJ shares closed 0.2% higher at $165.52 on Friday.

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