Johnson & Johnson (NYSE:JNJ) closed its $480 million cash deal to acquire Micrus Endovascular Corp. (NSDQ:MEND), a San Jose, Calif.-based maker of cerebral vascular devices.
San Jose, Calif.-based Micrus specializes in “bioactive” coils used to treat ischemic stroke and aneurysms.
The merger, announced in July, will see Micrus brought under the Codman Neruovascular umbrella, part of the Codman & Shurtleff Inc. arm of J&J’s DePuy subsidiaries. The new stable-mates enjoy complementary product lines and technologies for treating cerebral aneurysms, according to a press release.
The Codman portfolio already boasts bare platinum coils, vascular reconstruction devices and access devices. Besides the bioactive coils, Micrus brings balloon catheters, delivery systems and stents for the treatment of intracranial stenosis to the party.