J&J nears $20 billion sale of DePuy Synthes orthopedics unit to Apollo

Johnson & Johnson is in advanced talks to sell its DePuy Synthes orthopedics business to private-equity firm Apollo Global Management for roughly $20 billion, according to Bloomberg.

The deal would divest J&J's hips-and-knees segment, which the company has labeled "unwanted" and has been considering for a spin-off or IPO since last October.

DePuy Synthes, acquired as part of J&J's $21 billion Synthes purchase in 2009 and earlier as DePuy in 1998, generated about $9.3 billion in sales in 2025, representing just over 10 percent of J&J's total revenue and 29 percent of its MedTech division.

Bloomberg reports the agreement could be finalized within weeks, though negotiations could still fall apart or attract other bidders.