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The Gap Partnership

Synthes confirms business negotiations with Johnson & Johnson

Synthes has revealed it is in talks with Johnson & Johnson.

18 April 2011

Swiss medical specialist Synthes has revealed it is engaged in business negotiations with Johnson & Johnson.

Merger and acquisition consultants may be required by the parties after the former revealed that no assurances can be made in terms of what form the transaction might take.

Synthes explained that no further comment would be issued on the matter until a "definitive agreement" is reached or discussion between it and Johnson & Johnson cease.

Reuters reports that a source familiar with the issue had revealed the two parties were in talks over the weekend.

It consulted ZKB analyst Sibylle Bischofberger, who expressed doubts in regard to the future of the deal.

"We would be surprised if Hansjoerg agreed to this as he is still putting his heart and soul into Synthes. But, because he is 75 years old, he is maybe prepared to talk with Johnson & Johnson in order to find a good succession plan," she said.

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