03:20 PM EST, 02/11/2025 (MT Newswires) -- Johnson & Johnson ( JNJ ) is looking to sell its Cerenovus stroke care unit for more than $1 billion as part of its medical technology restructuring, The Financial Times reported Tuesday, citing people familiar with the matter.

The company engaged advisers to explore interest in Cerenovus, a maker of surgical tools for stroke treatment, contacting potential private equity and strategic buyers, said three people with knowledge of the plan, according to the report

Cerenovus may be valued at $1 billion to $1.5 billion, two people said, according to the report. The auction may not lead to a sale, and Johnson & Johnson ( JNJ ) might to retain the business, the FT said.

Johnson & Johnson ( JNJ ) declined to comment, the FT said.

"We do not comment on market rumors or speculation," a Johnson & Johnson ( JNJ ) representative said in an emailed statement to MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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