This explains everything to a T --
Look at the list of facilities sold to Jabil, they're all Synthes & EES Endomechanical sites. JNJ is divesting Synthes & the EES Endomechanical business. JNJ doesn't want to admit that the acquisition of Synthes was a mistake, so to save face all the Synthes facilities are being sold to Jabil. Once Jabil owns the Synthes facilities, JNJ will start rationalizing all the Synthes product codes, thus completing the death of Synthes. The EES Endomechanical business was struggling because it's become a low-margin commodity business, which JNJ wants to exit. Instead of selling the business to private equity or to a competitor, killing the business by giving it to Jabil & rationalizing the product codes is how JNJ plans on dumping it. Jabil is an expert when it comes to layoffs, so Jabil can dispose of the 6000 employees affected, otherwise it would be bad PR for JNJ if JNJ suddenly laid off 6000 employees .
This deal is massive for Jabil, and like you said, will mostly cover endo, spine and trauma. To put the size of the deal into perspective, here's what Mondello had to say about what JNJ is bringing to Jabil's business.
"Integration cost and charges directly associated with the deal will be in the range of $80 million. The real interesting part about this deal is that the cash outlay will largely be applied to working capital and inventory," Mondello said on the call. "We believe the annual revenue will grow to an excess of $1 billion annually."
The annual revenue of $1B that Jabil is projecting is coming from JNJ and the divisions being divested. Adios loyal employees.