Diversified healthcare company Johnson & Johnson said its Ethicon unit will buy privately held medical technology company Acclarent. for $785 million in cash.
J&J unit paying $785 million for devicemaker Acclarent
Both companies' boards of directors have approved the deal.
Acclarent makes minimally invasive devices used in sinus surgery.
J&J said the deal will be dilutive its 2010 adjusted earnings per share by 3 cents to 4 cents. The deal is expected to close during the first quarter.
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