Integra to buy J&J's neurosurgery business for $1B

Integra LifeSciences Holdings Corp. will purchase Johnson & Johnson's Codman neurosurgery business for $1.05 billion, reports Reuters.

Here are four things to know.

1. Integra develops products for neurosurgery, reconstruction, wound and dental care.

2. Codman neurosurgery business — part of J&J's DePuy Synthes unit — offers a portfolio of tissue ablation, spinal cord repair and cranial stabilization products.

3. Integra made a "binding offer" for the Codman business, although the deal is still pending approval from various works councils and regulators, a J&J spokeswoman told Reuters.

4. If approved by various works councils and regulators, the deal will close in the fourth quarter of 2017.

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