The US-based industrial corporation has acquired ASP, a Johnson & Johnson company, in a $2.7 billion cash deal
Fortive Corporation has completed the acquisition of the Advanced Sterilization Products (ASP) business from Ethicon, a subsidiary of Johnson & Johnson, for approximately US$2.7 billion in cash.
Headquartered in Everett, Washington, Fortive is an industrial corporation with interests in electrical and electronics manufacturing. The company bid for ASP in June last year.
James A. Lico, President and Chief Executive Officer, said: “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.”
ASP is a global provider of sterilisation and disinfection solutions. Headquartered in Irvine, California, ASP is recognised as a pioneer of low-temperature hydrogen peroxide sterilisation technology.
ASP’s products are sold globally. The company's portfolio includes the Sterrad system for sterilising instruments and the EVOTECH and Endoclens systems for endoscope reprocessing and cleaning.
In 2018, ASP generated net revenue of approximately $800m.