Johnson & Johnson (NYSE: JNJ) agreed to pay $480 million in cash to acquire Micrus Endovascular Corp. (NSDQ:MEND), a San Jose, Calif.-based maker of cerebral vascular devices.
Micrus specializes in "bioactive" coils used to treat ischemic stroke and aneurysms, according to a press release. The deal is expected to close during the second half of the year.
Stroke is the third-most-common cause of death in the U.S., according to the release, which cites the National Stroke Assn. Micrus chairman and CEO John Kilcoyne said stroke accounts for one of every 18 deaths in the U.S., where about 795,000 people have one each year.