Carlyle snaked the business away from several other PE groups who submitted 1st-round bids in September, according to anonymous sources who at the time named Blackstone Group, Kohlberg Kravis Roberts, Bain Capital and BC Partners as other prospective buyers.
The Carlyle deal, subject to regulatory review, is slated to close some time mid-2014. J&J promised to discuss the transaction further during its upcoming quarterly earnings meeting next week.
The ortho-clinical diagnostics business is a major global player in screening, diagnostics, monitoring and disease identification. Carlyle said it plans to push expansion into emerging and established markets and to make "accelerated" investments in research and product development.
Carlyle will pay for the transaction with equity from its $13 billion Carlye Partners VI U.S. Buyout fund, according to a statement.