ST. PETERSBURG, FL – Jabil will acquire the manufacturing operations of Johnson & Johnson Medical Devices in an $80 million deal. 

The acquisition covers J&J's endoscopy, surgical, spine, trauma and instrumentation devices, according to published reports.

As part of the deal, Jabil will acquire 14 sites. Jabil expects annual revenue to grow to more than $1 billion as a result.

The deal’s integration costs and charges associated with the deal reportedly could be some $80 million. The cash outlay is expected to be applied to working capital and inventory, says reports.