Johnson and Johnson approaches full acquisition

Johnson and Johnson (J&J) has tendered 98 per cent of Omrix’s shares in an acquisition offer.

When completed, the buying of the company – at $25 (17.15 pounds) per share – is set see the organisation running as a stand-alone business operating through Ethicon.

Currently, around 16,749,152 shares of the company’s common stock have been tendered.

In total, the deal – announced a month ago – is worth $438 million and is hoped to be completed “as soon as practicable”.

The tender offer’s deadline was originally extended to 00:00 Eastern Standard Time on December 26th.

Earlier this month, J&J’s company Ethicon said it had launched the Proceed Ventral Patch.

Used for small ventral, epigastric, umbilical and trocar site hernias, the product features a lighter-weight mesh and absorbable deployment technology.

Available in 4.3 cm and 6.4 cm sizes, the patch is also sterile and self-expanding.

The first surgeon to implant the device in a patient, Dr Carl Doerhoff, said he was “very excited” about the advances in the technology.

“Knowing that the product is flexible and partially absorbable for a greater likelihood of long-term patient comfort is an added benefit,” he added.