Johnson & Johnson's ($JNJ) $21.3 billion bid to buy Swiss orthopedic device maker Synthes is finally reaching the regulatory finish line.
The Associated Press reported that the Federal Trade Commission will approve the deal, as long as J&J agrees to sell its DVR system for surgically treating wrist fractures to Biomet. Earlier this year, the company decided to sell its DePuy global trauma business to Biomet for $280 million to satisfy European regulatory concerns about the deal. The EU granted approval for the sale in April as a result.
The merger could close as early as this week, according to reports, marking the expected close of what was FierceMedicalDevice's top medical device deal of 2011 (and J&J's biggest purchase ever), more than a year after it was first announced. J&J will also become the biggest competitor in the $5.5 billion trauma device market.
- here's The Associated Press story