Dynamic Healthcare M&A Database

Acquiring Party	Johnson & Johnson (NYSE: JNJ), a major pharmaceutical and medical device manufacturer.
Transferring Party	Mentor Corporation (NYSE: MNT), a leading supplier of breast implants and other medical products for the global aesthetic market.
Sector	Medical Devices
Date	January 26, 2009
Analysis Strengthens J&J/ETHICON's presence in aesthetic and reconstructive markets, which are less sensitive to reimbursement and margin pressures. J&J recently introduced a collagen-based skin filler and some of its devices for stomach-reduction and other operations are increasingly being used in plastic surgery, including sutures, mesh implants for facelifts, and harmonic scalpels. Most of Mentor's sales are in the U.S. and J&J, with a huge global sales operation, sees an opportunity to expand the business internationally. Deal value -- $1.1b, on sales of $382.0m (2.9x) and EBITDA of $83.5m (13.4x).
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Dynamic Healthcare M&A Database - 1Q09