ETHICON’s Professional Wound Care Business Acquired by One Equity Partners

Cravath represented ETHICON, Inc., a Johnson & Johnson company, in connection with the offer by One Equity Partners to acquire ETHICON’s Professional Wound Care business. ETHICON is a global medical device company that develops and markets surgical products for use in general surgery, wound management and women’s health & urology. Financial terms of the transaction are not being disclosed. Under the terms of the offer, One Equity Partners would acquire the Professional Wound Care product portfolio, which contains a variety of wound care brands and general wound care products. The lawyers involved in this matter were partner Robert I. Townsend, III and associates Stephen M. Kessing and Jonathan P. Solomon and summer associate Michael J. O. Adams on corporate matters; partners Michael L. Schler and Lauren Angelilli and associates Annie Kim Choi and Sophie Alexane on tax matters; senior attorney Rolf Zaiss and associate Jarrett R. Hoffman on executive compensation and benefits matters; and senior attorney Gregory J. Battista on environmental matters. The deal was announced on July 1, 2008.