Medtronic Inc. (NYSE: MDT) will acquire China Kanghui Holdings (NYSE: KH) for $816 million.

The Changzhou-based target distributes orthopedic devices throughout China.

Medtronic, a Minneapolis-based medical-device manufacturer, expects the deal to strengthen its presence in the emerging Asian market.

The transaction is expected to close by the end of 2012.

O’Melveny & Myers LLP represented China Kanghui Holdings.

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