J&J Is Said to Explore $20 Billion-Plus Sale of Orthopedics Unit

Johnson & Johnson is preparing a potential sale of the orthopedics unit that it has been planning to separate, with big buyout firms already circling, according to people familiar with the matter.

The business, known as DePuy Synthes, could be valued at more than $20 billion in a sale, the people said, asking not to be identified discussing confidential information.

J&J is assembling documents and financials for DePuy Synthes before it meets with possible buyers in the coming weeks, the people said. Several large private equity firms are considering teaming up to potentially buy out the unit, they said.

DePuy ...