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Integra Scoops up JNJ's Codman Neurosurgery for $1.05 Billion

Integra hopes this deal will grow its revenue to $2 billion sooner than expected.

Integra Lifesciences (IART) - Get Integra LifeSciences Holdings Corporation Report has acquired Johnson & Johnson's (JNJ) - Get Johnson & Johnson (JNJ) Report neurosurgery medical device unit for $1.045 billion. Integra hopes this deal will grow its revenue to $2 billion sooner than expected. Stocks are pretty stable this a.m. in response. The deal is Integra's second this year.

It acquired a dermatology company in January. Johnson & Johnson is looking to divest its diabetes care assets still.

This article was written by a staff member of TheStreet.

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