Johnson and Johnson completes Synthes takeover

Johnson and Johnson has announced the completion of its takeover of Synthes, a leading medical technology manufacturer.

Following the finalisation of the $19.7 billion (12.59 billion pounds) transaction, Synthes will be integrated with Johnson and Johnson's existing DePuy franchise, creating a combined entity known as DePuy Synthes.

The combination of the two organisations is expected to help bring new innovations in the fields of orthopaedics and neurologics to market, while improving competitiveness in emerging markets.

It is also thought that the merger will allow the companies to become more agile and responsive in a rapidly-evolving healthcare environment.

Alex Gorsky, chief executive officer at Johnson and Johnson, said: "The completion of the Synthes acquisition creates the world's most innovative and comprehensive orthopaedics business and reflects our longstanding strategy of leadership within attractive healthcare markets."

Synthes was founded in 1958 and offers instruments, implants and biomaterials for repairing and regenerating the human skeleton and soft tissues.