J&J's ETHICON ENDO-SURGERY UNIT TO GAIN MAMMOTOME BREAST BIOPSY DEVICE THROUGH $310 MIL. BIOPSYS BUY; DEAL WOULD BOOST MAMMOTOME OVERSEAS SALES
This article was originally published in The Gray Sheet
Executive Summary
Johnson & Johnson's proposed $310 mil. acquisition of Biopsys Medical would boost Biopsys' international sales of its Mammotome percutaneous breast needle biopsy system and accompanying disposables by putting them in the hands of the J&J Ethicon Endo-Surgery division's worldwide sales force. The companies announced May 22 a definitive agreement to merge in a stock transaction valuing Biopsys stock at $27.55 per share; the deal is expected to close within 90 days.