Once the transaction is complete, Synthes and the DePuy Companies of J&J together will comprise the largest business within the Medical Devices and Diagnostics segment of J&J.
DePuy offers orthopaedics products, while Synthes is a provider in trauma, spine, cranio-maxillofacial and power tools.
J&J chairman and CEO Bill Weldon said DePuy and Synthes together will create a comprehensive orthopaedics business in the world and enable them to better serve clinicians and patients worldwide.
Synthes founder and chairman Hansjoerg Wyss said the combination of Synthes and J&J will ensure that physicians and hospitals will receive support in cooperation with the AO Foundation to help their patients.
The transaction is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act, approval by the European Commission and regulatory approval in certain other jurisdictions, as well as other customary closing conditions.
The merger will require the approval of Synthes’ stockholders, and will be effected by way of a statutory merger under Delaware law.
Since Synthes is incorporated outside of Switzerland, Swiss takeover regulations do not apply to the merger.
DePuy Orthopaedics, DePuy Spine, DePuy Mitek and Codman & Shurtleff are part of the DePuy Family of Companies of J&J.
