CSS doesn't fit into the long-term strategy of where J&J is going in terms of maintaining at least 4% growth. There will have to be more than just layoffs in order for J&J to fix what's broken here. BWI is a keeper for J&J, and BWI is already physically separate from the rest of CSS with their own buildings and campus in Irwindale & Israel. Mentor could easily be sold off or spun back off into an independent company as they were before 2009 since they have their own buildings and campuses in Texas and Netherlands. ASP, Sterilmed and Acclarent could be sold off to a private equity firm like Ortho Clinical Diagnostics was. In order to sell ASP, Sterilmed and Acclarent, they would need to cut headcount and outsource most manufacturing. A good chunk of Sterilmed's operations are outsourced to outside vendors or contractors, ASP's manufacturing is nearly all outsourced, and all of Acclarent's manufacturing is outsourced. With a few more layoffs here and there, the pieces are already in place for J&J to break up CSS.
Posted 4 months ago
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