Summarize this content to 2000 words in 6 paragraphs in Arabic Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Johnson & Johnson has put its stroke care business up for sale, aiming for a valuation of more than $1bn, as part of its efforts to reorganise its medical technology division, according to people familiar with the matter.The New Jersey-based healthcare company has approached potential private equity and strategic buyers via advisers to test interest in Cerenovus, which manufactures surgical equipment used to treat stroke patients, three people with knowledge of the plan said. Cerenovus could fetch between $1bn and $1.5bn, two people said. The sale would mark the latest part of J&J’s attempts to reorganise and rebuild its medical technology division. The healthcare company has spent more than $30bn on acquisitions of medical device makers over the past three yearsThe auction process might not result in a sale and J&J could decide to hold on to the asset, the people warned. J&J declined to comment on “market rumours or speculation”. J&J, which ranks as the second-biggest pharmaceutical group globally with a market value of $375bn, generated $31.8bn in sales from its medtech division last year, out of total group revenues of $88.8bn. Medtech is a crucial part of J&J’s growth strategy following set piece acquisitions of heart pumpmaker Abiomed for $16.5bn in late 2022 and Shockwave Medical, which specialises in devices to treat blocked arteries, for $13.1bn last year. J&J launched 15 medical device products last year. Last month, J&J also announced a $14.6bn deal to buy neuroscience drugmaker Intra-Cellular, marking the biggest biotech buyout in more than a year. J&J has among the highest cash and debt capacity to do deals, according to analysts at Jefferies. Last year, J&J reorganised all its medical device units under the umbrella of the its medtech division. The company has slimmed down and focused its operations in recent years, most recently spinning off its consumer health division as a separate listed company, Kenvue, before fully exiting the stake last year.
