The agreement represents the end of a months-long bidding process for the ortho-clinical diagnostics business, which makes blood-screening equipment, lab blood tests and other exams that screen for HIV.
The maker of Band Aids and Listerine mouth wash said it decided to accept the bid after consulting with relevant work councils and trade unions.
The deal is expected to close toward the middle of 2014, subject to customary closing conditions. J&J said it will discuss any updates during its earnings call on April 15.
Shares of New Brunswick, N.J.-based J&J ticked up 0.56% to $97.99 in premarket trading Monday morning. J&J has advanced about 6% so far this year, outperforming the broader markets.