J&J's $21.3B bid for orthopedic devicemaker Synthes nearly done

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

Suggested Articles

Longitude Capital invests in what its founders call “transformative healthcare companies," working in areas they hope will increase quality of life.

The FDA launched a center of excellence to oversee digital health products such as smartphone apps, wearable devices and software-based treatments.

The immunoassay will measure neurofilament light chain protein levels, found in the blood and cerebrospinal fluid, and linked to nerve damage.