Fortive Corp. (NYSE: FTV), Everett, WA, has completed the acquisition of the Advanced Sterilization Products from Ethicon, Inc., a subsidiary of Johnson & Johnson, for $2.7 billion in cash.

Advanced Sterilization Products is a global provider of innovative sterilization and disinfection solutions, and a pioneer of low-temperature hydrogen peroxide sterilization technology. 

 “We are extremely excited to welcome ASP to the Fortive family,” said James A. Lico, president and CEO of Fortive. “The acquisition of ASP demonstrates our increased commitment to enhancing the safe operation of hospitals and healthcare facilities worldwide. We are confident that the addition of ASP to the Fortive portfolio will generate compelling value for ASP and its customers, as well as our shareholders.”