Johnson & Johnson, New Brunswick, N.J., said it will acquire Swiss orthopedic medical device company Synthes in a $21.3 billion deal.
J&J to acquire Synthes for $21.3 billion
Synthes, which has headquarters in Solothurn, Switzerland, and West Chester, Pa., manufactures devices that treat trauma and bone fractures. It will be merged with Johnson & Johnson's medical devices unit, the Depuy Family of Companies, according to a joint news release.
The companies said in the news release that they are “well-positioned to address significant market trends,” such as an “aging population, patient desire to remain active, increasing rates of obesity and the resulting impact on joint disease, growing treatment demands in emerging markets and a movement toward earlier intervention.”
Orthopedics is a $37 billion global market, according to Johnson & Johnson Chairman and CEO Bill Weldon in the news release.
Both boards agreed to the deal although the companies said the acquisition requires the approval of Synthes' shareholders.
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