Carlyle snaked the business away from several other PE groups who submitted 1st-round bids in September 2013, including Blackstone Group, Kohlberg Kravis Roberts, Bain Capital and BC Partners.
The PE giant agreed to pay $4.15 billion for the J&J blood testing unit.
Madaus, the former chief executive at Roche (PINK:RHHBY) and Millipore before it was bought out in 2010 by Merck KGaA, stepped down from his board seat with Covidien (NYSE:COV) in early February in preparation for the gig with Ortho-Clinical Diagnostics. He is taking over for Eric Compton, who will stay on until the deal closes, according to a press release.
“As an experienced executive with an exemplary track record of growing businesses, Martin can lead OCD through its transition to an independent company and transformation into a leading diagnostics platform. We believe our long-term partnership with Martin in the in vitro diagnostics industry will create significant value for our investors over the coming years,” Carlyle managing director Stephen Wise said in prepared remarks.
At DeviceTalks Boston, Tyler Shultz will give attendees an inside look at Theranos and how he was able to sound the alarm after he realized the company was falling apart. Shultz will take attendees behind the story that everyone is talking about: the rise and fall of Elizabeth Holmes and her diagnostic company, Theranos.
Join Shultz and 1,000+ medical device professionals at the 8th annual DeviceTalks Boston.