Johnson & Johnson MedTech is restructuring its DePuy Synthes orthopedic business, executives said today on a quarterly earnings call with investors.
J&J (NYSE: JNJ) CFO Joe Wolk said the two-year restructuring program will take the orthopedics unit out of less profitable markets and product lines to improve the segments profitability after it reported 2.6% sales growth in Q3.
We [took] steps in the quarter to improve MedTechs future margin profile, implementing a restructuring program designed to simplify and focus the operations of our orthopedic business, Wolk said on the call.
He said the restructuring should be complete by the end of 2025 at a cost of $700 million to $800 million, but will improve the units ability to meet produc…
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