Ortho Clinical hived off into separate entity

Ortho Clinical Diagnostics (Ortho), a business unit of Johnson & Johnson India, has been hived off into a separate company as part of a global restructuring. Ortho, which manufactures clinical diagnostics for laboratories and blood banks, was acquired from J&J by the Carlyle group in a $6-billion deal globally in June 2014 Stock Market Trading Tips

The transition took place in India with effect from October 26 after all regulatory approvals, a company official told TOI. The turnover of Ortho is estimated to be around Rs 220 crore. Ortho serves the global transfusion medicine community with donor screening and blood-typing products to help ensure that patients receive blood that is safe. 

"Our focus continues to be on our commitment to the Indian healthcare industry, and its providers, to better serve the patient. We intend to further invest in R&D to create products that will assist in decision making and thus ensure that patients receive the requisite diagnosis and treatment," Ortho India's MD Anand Pande said Indian stock market astrology prediction