Private equity firm The Carlyle Group has made a binding offer to acquire the Ortho-Clinical Diagnostics business of Johnson & Johnson (J&J) for US$4.15 B. Unless extended, the acceptance period for the offer will expire on 31 March 2014. In January 2013, J&J announced that it was considering strategic alternatives for the division, which has seen sales decline. A divestment would be consistent with the company’s long-held strategy of focusing on healthcare businesses that rank first or second in their respective markets.