Johnson & Johnson has announced it has accepted a $4 billion binding offer from PE firm Carlyle Group for Johnson & Johnson’s Ortho Clinical Diagnostics business.

Ortho Clinical Diagnostics, headquartered in Raritan, N.J., operates in 130 countries. It provides solutions for early screening, diagnosing, monitoring and confirming diseases, focused on supporting hospitals, laboratories and blood centers worldwide.

Carlyle Group, headquartered in Washington, D.C., is a global asset management firm specializing in PE. It has more than $185 billion in assets under management across 122 funds and 81 fund of funds vehicles. Since Carlyle’s inception, it has invested $6.3 billion of equity in healthcare transactions.