Johnson & Johnson announced on Wednesday about the purchase of Synthes Inc., bone-repairing device manufacturer. The deal has been struck for $21.3 billion. The Headquarter of J&J is in New Brunswick and they provide their services in Greater Philadelphia area, which also includes an office in Spring House.

However, the deal does not have the approval of the state banking regulators in the banks' home states of New York and Delaware. The Federal Reserve has approved the deal.

After the completion of the deal, Synthes will collaborate with Depuy Companies in order to expand its business within Johnson & Johnson business. They will develop the best orthopaedics business worldwide. This would be the biggest deal by the J&J.

The Chairman and CEO of J&J, Bill Weldon asserted, “Orthopaedics is a large and growing $37 billion global market and represents an important growth driver for Johnson & Johnson”.

Both the companies revealed that they J&J will use the cash and stocks to purchase Synthes. According to the provision, the shares of Synthes will be priced at 159 Swiss francs or $181.50 apiece.

Meanwhile, it was also disclosed that Johnson & Johnson has to face all the raised questions against the handling of the manufacturing problems.