NEW BRUNSWICK, N.J. (
Johnson & Johnson
plans to acquire
, a privately held medical technology company, for about $785 million.
Johnson & Johnson said Wednesday that Acclarent designs devices for the ear, nose and throat. It specializes in products used for sinus surgery.
Johnson & Johnson said the all-cash acquisition, to be made via its
subsidiary, is expected to close in the first quarter of 2010. The deal is expected to dilute Johnson & Johnson's adjusted earnings by 3 cents to 4 cents a share. Analysts surveyed by Thomson Reuters expect Johnson & Johnson to earn $4.93 a share in 2010.
Johnson & Johnson's Gary Pruden, group chairman for Johnson & Johnson with responsibility for the Ethicon business, said the "transaction represents an important growth opportunity for our business in an area where there were previously limited solutions available to patients."
-- Reported by Joseph Woelfel in New York.
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