Johnson Matthey to Sell its Medical Device Components Business

UK’s Johnson Matthey (JM) has signed a definitive agreement to sell 100% of its Medical Device Components (MDC) business to Montagu Private Equity for $700 million (£550 million).

The MDC business, which produces components for medical devices with a focus on precious metal alloys and nitinol for global customers, operates manufacturing sites in San Diego, USA; Mexicali, Mexico; and Tullamarine, Australia.

With the sale of the MDC business and the already completed sale of its Battery Systems business, JM said that it has concluded the divestment program for its Value Businesses, originally announced in May 2022.

The transaction, which is subject to regulatory approval, is expected to be completed in the third quarter of 2024.

Liam Condon, CEO of Johnson Matthey, said: "Today’s announcement represents a significant milestone in our disposals program announced in May 2022. As a JM business, MDC has delivered technological differentiation and good growth to the critical health sector. We welcome Montagu’s plans to continue the investment and growth plans at MDC.”

"We are pleased that this concludes our Value Businesses disposal program which will deliver benefits to JM shareholders in terms of value realization, simplification and increased focus on our growth businesses, where JM has a proven ability to win," Condon added.

© Swapan - stock.adobe.com
© Swapan - stock.adobe.com

Company

Johnson Matthey

Orchard Road
SG8 5HE Royston, Herts
UK

Company contact







Innovation Pitch

The Start-up Platform for Chemistry & Life Sciences
Discover Tomorrow’s Innovators

The Start-up Platform for Chemistry & Life Sciences

CHEManager Innovation Pitch supports innovation in the chemistry and life sciences start-up scene. The platform allows founders, young entrepreneurs, and start-ups to present their companies to the industry.

Whitepaper

Excellence in Pharmaceutical Distribution and The Critical Role of Good Distribution Practice (GDP)
Setting the Standard

Excellence in Pharmaceutical Distribution and The Critical Role of Good Distribution Practice (GDP)

Are you ready to elevate your pharmaceutical operations? Download our exclusive whitepaper and discover how compliance with Good Distribution Practice (GDP) is essential for the safety and integrity of pharmaceuticals.