J&J Expanding Operations In Israel
Ralph Larson, chief executive of Johnson & Johnson, has said that thegroup intends to rapidly expand its operations in Israel, following the recent acquisition by J&J's Cordis unit of local firm Biosense, a medical sensor technology company which makes catheter-based cardiovascular navigation systems.
Local reports said Biosense shareholders were to receive $400 million in J&J shares, although the US company declined to disclose terms. Reports quoted by Reuters cited J&J forecasts estimating a potential $2 billion market for Biosense products.
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