J&J plans to buy Synthes for $21.3B

Associated Press

GENEVA

Health-products giant Johnson & Johnson said Wednesday it will buy U.S.-Swiss medical-device maker Synthes Inc. for $21.3 billion, greatly increasing its share of the market for surgical trauma equipment and orthopedic implants.

J&J’s largest-ever deal will see the New Jersey-based company offer 159 Swiss francs in cash and stock for each Synthes share.

That is a 22 percent premium on the April 14 share price, the day before reports first claimed Synthes was considering a takeover.

Synthes is based in West Chester, Pa., but has its global headquarters in Solothurn, Switzerland.

Last year, it had global sales of $3.69 billion, including $2.15 billion in North America.