Johnson and Johnson has announced that it has received a binding offer from a private equity company to sell the Ortho Clinical Diagnostics unit.
That division will be sold to Carlyle Group for just over $4billion.
Ortho-Clinical makes diagnostic medical equipment and it's headquartered in New Jersey. It employs nearly 1100 people in Rochester and Greece.
J&J acquired the locally based Ortho- Clinical operations from Kodak back in 1994.
New York Senator Chuck Schumer issued a statement saying that the Carlyle Group is committed to investing in the local facility and growing high paying research and development jobs.
He also says that Carlyle's plans include finding ways to commercialize new products.
