Torax Medical agrees to sell to Johnson & Johnson subsidiary

Torax Medical Inc., which makes a ring-shaped device that treats acid-reflux disease, is being bought by a surgical-tools subsidiary of Johnson& Johnson Co. The health-care giant, which invested in Torax last year, will fold the company into Ethicon, an Ohio company that makes medical tools used for surgery. Financial terms weren’t disclosed. Ethicon, which is a division of New Jersey-based Johnson& Johnson (NYSE: JNJ), expects to close on the deal by the end of March. Ethicon was also the …
Source: bizjournals.com Health Care:Biotechnology headlines - Category: Biotechnology Authors: Source Type: news