Synthes to be acquired by Johnson and Johnson in $21bn takeover

Published date : 30 April 2011
Article date : 30 April 2011

The US healthcare corporation Johnson and Johnson has agreed to buy the Swiss orthopaedic implant manufacturer Synthes in a deal worth $21.3 bn (£13bn). The deal is due to complete in the first half of 2012, subject to shareholder and regulatory approval. Some have speculated that this helps Johnson and Johnson manage the product recalls it has had to deal with in the last year (including the ASR hip), and Synthes has had a reputation as having the highest profit margins in the industry. The acquisition may push Johnson and Johnson’s share of the orthopaedic trauma market to around 54%, a market which is expected to grow faster than that for hip and knee replacement, and will also increase their presence in the market for spinal implants. 

Synthes has more than 11,000 employees and sales last year of $3.69 billion. Synthes chairman Hansjoerg Wyss has a significant stake in the company and may now become Swizerland’s richest man. Until this deal was announced, Smith and Nephew had also been a target for takeover by Johnson and Johnson.
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