Johnson & Johnson Gets a $1.045 Billion Cash Offer for Its Neurosurgery Device Biz

This article was originally published here

Feb 15 Integra Lifesciences Holdings Corp

* Integra Lifesciences plans to acquire the Codman
neurosurgery business from Johnson & Johnson for $1.045 billion
in cash

* Deal for $1.045 billion in cash

* Transaction expected to be accretive to integra’s adjusted
earnings per diluted share by at least $0.22 in first fy

* Says expects codman neurosurgery revenue to experience
some initial disruption in first year of combination

* Says expects codman neurosurgery revenue to grow 3% to 6%
longer term

* Says has obtained committed financing, subject to
customary closing conditions, from BofA Merrill Lynch and
JPMorgan

* Deal expected to also accelerate path to achieving co’s
aspirational targets of $2 billion in revenue, 30% adjusted
ebitda margin

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