Johnson & Johnson agrees to pay $23.40 per share in cash for Micrus Endovascular Corp., which makes devices to treat stroke and aneurysm in the brain.
Johnson & Johnson (NYSE: JNJ) agreed to pay $480 million in cash to acquire Micrus Endovascular Corp. (NSDQ:MEND), a San Jose, Calif.-based maker of cerebral vascular devices.
Micrus specializes in “bioactive” coils used to treat ischemic stroke and aneurysms, according to a press release. The deal is expected to close during the second half of the year.
When Investment Rhymes with Canada
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
Stroke is the third-most-common cause of death in the U.S., according to the release, which cites the National Stroke Assn. Micrus chairman and CEO John Kilcoyne said stroke accounts for one of every 18 deaths in the U.S., where about 795,000 people have one each year.
News of the acquisition sent Micrus stock up nearly 5 percent, to $23.28 from its $23.22 open, in early-morning trading. JNJ stock ticked down 0.3 percent to $60.32 from a $60.48 open.
The Massachusetts Medical Devices Journal is the online journal of the medical devices industry in the Commonwealth and New England, providing day-to-day coverage of the devices that save lives, the people behind them, and the burgeoning trends and developments within the industry.
