Johnson & Johnson weighs spinning off its hips‑and‑knees unit

Johnson & Johnson said its chief financial officer, Joseph Wolk, is evaluating a spin‑out of the hips‑and‑knees business. The unit, DePuy Synthes, posted $9.3 billion in sales for 2025. The company has previously explored separating its orthopedics segment, which has drawn private‑equity interest.

The company says the spin‑out could create value for shareholders, potentially altering its revenue mix and cash flow. Investors will watch for a formal decision, which may affect JNJ’s stock price and future dividend capacity.

  • 1CFO Joseph Wolk said Johnson & Johnson is considering spinning out its hips‑and‑knees business.
  • 2The hips‑and‑knees unit, DePuy Synthes, generated $9.3 billion in sales in 2025.

Sources