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.