Apollo reportedly nears $20 billion talks for J&J orthopedics business

Apollo ($APO) is in talks to acquire Johnson & Johnson’s ($JNJ) DePuy Synthes orthopedics business in a transaction that could be worth around $20 billion, Reuters reported, citing Bloomberg. The unit generated approximately $9.3 billion in sales in 2025.

A deal could emerge within weeks, but negotiations are not a signed acquisition. Johnson & Johnson is also considering its planned separation of the business. The report leaves the final structure, financing and outcome unresolved; neither company confirmed a completed transaction.

Sources:

• Reuters, citing Bloomberg — DePuy Synthes discussions