April 17, 2011

Medical Device Company in Talks with J&J

buyout talks with Johnson & Johnson and a Medical Device Maker, Synthes, announced the talks between the two companies were ongoing. I found the announcement interesting especially after learning a bit more about who was at the helm of Synthes. It is the Chairman of the Board and also the Chief Executive, Hansjorg Wyss. Collectively, he and his family control about 47.8% of the company. Not only that, he is one of Switzerland's richest citizens with an estimated net worth of $6 Billion, according to Forbes magazine. Mr. Wyss is a 1965 graduate of Harvard Business School and did not joined Synthes until 1977. In 2008, he set a record by donating $125 million to Harvard, the schools largest single gift in history. This man's Harvard education undoubtedly contributed to his ability to run a major company, while amassing a fortune in the process. His graduate degree came from 1965, this makes me realize the education must have consisted of teaching students how to conduct research to keep up with the changing times in industry, technology, business, and government. The fact Mr. Wyss is selling to Johnson & Johnson makes me wonder what he has in mind for his next venture, maybe a Harvard Professor?
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