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Alex Gorsky, chairman and chief executive officer at Johnson & Johnson.
J&J’s advanced sterilization products (ASP) business, part of its Ethicon unit, generated revenue of about $775 million in 2017.
Fortive, a maker of industrial products, plans to finance the acquisition through debt or equity and with available cash and said it expected the acquisition to add to adjusted earnings in the first full year after the transaction.
Everett, Washington-based Fortive was spun-off in 2016 from Danaher, which develops technology for dental, life sciences and diagnostics industries.