Published January 20, 2017 8:39am EST | Updated January 20, 2017 9:04am EST

Johnson & Johnson's Ethicon Endo-Surgery To Acquire Medical Device Maker Megadyne Medical Products

Johnson & Johnson's Ethicon Endo-Surgery said early Friday it has acquired privately-held medical device maker Megadyne Medical Products Inc. The company did not detail the deal's financial terms. Megadyne makes electrosurgical tools used in operating rooms, and will complement Ethicon's advanced energy devices, the company said. Electrosurgical devices are used in nearly four out of every five surgeries, according to Ethicon. Johnson & Johnson shares have slumped 0.6% over the last three months, compared with a 5.7% rise in the S&P 500 .