M&A Moves

BUSINESS NEWS

Ethicon Endo-Surgery (Cincinnati), a Johnson & Johnson company, has entered into a definitive agreement to acquire SurgRx (Redwood City, CA), a privately held developer of the advanced bipolar tissue sealing system used in the EnSeal family of devices. Terms of the agreement were not disclosed.

Zimmer Holdings Inc. (Warsaw, IN) is acquiring Abbott Spine (Austin, TX), a business unit of Abbott Laboratories (Abbott Park, IL), for approximately $360 million in cash. The boards of directors of both companies have approved the transaction, which is expected to close in the fourth quarter of 2008.

Royal Philips Electronics (Amsterdam) has reached an agreement to acquire Alpha X-Ray Technologies (Mumbai, India), a leading manufacturer of cardiovascular x-ray systems targeting the economy segment of the Indian market. Upon closing of the transaction in the fourth quarter of 2008, Alpha will become part of the cardiovascular x-ray business within Philips's healthcare sector. Financial details of the agreement were not disclosed.

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