Synthes Confirms J & J Deal Being Discussed
U.S.-Swiss medical device maker Synthes Inc. is confirming that it is in talks to be bought out by health giant Johnson & Johnson.
Synthes said Monday that in response to market speculation it "confirms that it is engaged in discussions with Johnson & Johnson about a potential business combination transaction."
Synthes makes surgical instruments, implants and materials for repairing bone and soft tissue.
Johnson & Johnson, which is under close Food and Drug Administration scrutiny over repeated product recalls, hopes to boost its medical equipment business.
Synthes said that "no assurance can be given" when, or on what terms, a deal might be reached and it did not intend to comment further publicly until the two companies reach agreement or call off the talks.