People familiar with the discussions told Bloomberg that Apollo is working toward a valuation of close to $20 billion for the unit, known as DePuy Synthes.
- The talks remain private and may not produce a transaction, Bloomberg said.
- J&J announced in October 2025 that it intends to separate the orthopedics business.
- At the Wells Fargo healthcare conference on September 9, MedTech chairman Tim Schmid said J&J still aims to separate orthopedics and will choose a path — spin or sale — that creates the most value.
Johnson & Johnson shares edged higher after the close on Friday as investors digested a late report that Apollo Global Management is in talks to buy the company’s orthopedics business.
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