J&J Explores $20B+ Sale of DePuy Synthes as Unit Acquires Spine Implant Maker

Johnson & Johnson is preparing a potential sale of its orthopedics unit, DePuy Synthes, which could be valued at more than $20 billion, according to people familiar with the matter. The move comes as the unit’s spine business announced the acquisition of Expanding Innovations, a developer of expandable implant technology for spine surgery.

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

Expanding Innovations offers a proprietary, non-screw-based interbody cage technology designed to mitigate post-operative cage collapse and vertebral body subsidence while supporting procedural efficiency and implant stability. Its commercial portfolio includes the X-PAC TLIF expandable posterior cage, X-PAC LLIF expandable lateral cage, and X-PAC N-GAGE lumbar plate systems, with plans to expand into anterior lumbar interbody fusion and enhanced instrumentation.

DePuy Synthes stated that the acquisition strengthens its spine portfolio and expands its position within the expandable interbody cage segment. The company intends to integrate the technology into its Velys robotic platform for spine and pair it with the existing TriALTIS spine system.

“Expanding Innovations is an exciting addition to DePuy Synthes and furthers our commitment to bringing market-leading solutions across our Spine portfolio,” the worldwide president of DePuy Synthes said in a statement. “Our current portfolio and EI’s innovation pipeline will strengthen our position in this high growth segment while expanding our ability to deliver meaningful innovation for surgeons and patients.”