Wed Feb 15, 2017

Medical device maker Integra LifeSciences Holdings Corp said on Wednesday it has offered to buy Johnson & Johnson’s Codman neurosurgery business for $1.05 billion in cash.

Integra, which makes products used in neurosurgery, reconstruction, wound and dental care, said Codman’s devices would bolster its pipeline of offerings for tissue ablation, spinal cord repair and cranial stabilization.

If the bid is accepted, it will add to Integra’s adjusted earnings per share by at least 22 cents in the first full year after closing and increase thereafter.

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