Published on June 15, 2012 at 12:42 AM
Johnson & Johnson (NYSE: JNJ) today announced the completion of the acquisition of Synthes, Inc. for a total purchase price of $19.7 billion in cash and stock. Synthes will now be integrated with the DePuy franchise to establish the DePuy Synthes Companies of Johnson & Johnson.
"The completion of the Synthes acquisition creates the world's most innovative and comprehensive orthopaedics business and reflects our long-standing strategy of leadership within attractive health care markets," said Alex Gorsky, Chief Executive Officer, Johnson & Johnson. "The combination of these two respected leaders -- Synthes and DePuy -- will enable us to better serve clinicians and patients worldwide, bring new innovations to the marketplace in orthopaedics and neurologics, and strengthen our ability to compete in developing markets."
"This is a very exciting day for the people of Synthes and DePuy as we become one comprehensive enterprise dedicated to advancing patient care through innovative, total solutions that are developed from a deep understanding of our customers' needs," said Michel Orsinger, Worldwide Chairman, Global Orthopaedics Group, and former CEO of Synthes. "We are building on the legacy and strengths of two great companies to create one organization that will be agile and responsive in today's evolving health care environment."
SOURCE Johnson & Johnson