J&J Buys Device-Making Firm
Surgical-products manufacturer Ethicon, a Johnson & Johnson (JNJ) company, has acquired medical-device maker Vascular Control Systems.
Privately held Vascular Control develops devices to control bleeding during obstetric and gynecologic procedures. Ethicon makes instruments for general surgery, wound management, women's health and cardiovascular surgery.
"This represents a strong, strategic fit with our gynecologic business," said Sheri McCoy, a J&J executive responsible for the Ethicon business. "The technology and knowledge we'll gain will enable us to expand our ability to create new therapies for women," she said.
Specific financial terms of the transaction weren't disclosed.J&J's shares dipped 18 cents to $58.53 Tuesday.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV