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.