Symbiosis Bought for $175 Million
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NEW YORK — American Home Products Corp. announced Thursday that it will acquire Symbiosis Corp., a Miami-based pharmaceutical company, for $175 million.
Under terms of the agreement, American Home Products will make additional payments to Symbiosis based on the company’s performance.
The privately held Symbiosis develops and manufacturers disposable instruments for endoscopic and laparoscopic surgery. Symbiosis will operate as a subsidiary of American Home Products, and its management team will remain intact.
Some of Symbiosis’ products are marketed by Johnson & Johnson’s Ethicon division.
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