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J & J Unit To Buy Acclarent For $785M

Diversified health care company Johnson & Johnson said its Ethicon unit will buy privately held medical technology company Acclarent Inc. for $785 million in cash.

NEW YORK (AP) -- Diversified health care company Johnson & Johnson said Wednesday its Ethicon unit will buy privately held medical technology company Acclarent Inc. for $785 million in cash.

Both companies' boards of directors have approved the deal.

Acclarent makes minimally invasive devices used in sinus surgery.

J&J said the deal will be dilutive its 2010 adjusted earnings per share by 3 cents to 4 cents. The deal is expected to close during the first quarter.

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