Johnson & Johnson (NYSE: JNJ) has completed the acquisition of Abbott Medical Optics, previously a wholly owned subsidiary of Abbott, in a $4.33 billion all-cash deal first announced in September. AMO is a provider of eye care products related to cataract surgery, laser refractive surgery and consumer eye health. J&J will incorporate the unit into its ACUVUE contact-lens business, with the combined organization operating under the brand Johnson & Johnson Vision.
The 130-year-old conglomerate has been on an acquisition roll of late, agreeing in January to buy Swiss biopharma Actelion (SIX: ATLN) for $30 billion in cash and completing last July the $3.3 billion purchase of personal-care products maker Vogue International. J&J has steadily acquired a couple companies each year since 2008, according to the PitchBook Platform. That includes last year, when the company picked up stakes in seven separate companies in the healthcare or consumer products spaces.
On the flip side, J&J has also been taking bids for its own subsidiaries. Just two weeks ago, the company received a $1 billion offer from Integra LifeSciences (NASDAQ: IART) for its Codman Neurosurgery business.