Johnson & Johnson will buy breast implant maker Mentor Corp for $1.07 billion as the diversified healthcare giant pushes into the market for cosmetic medical procedures, reports Reuters.

J&J's tender offer for Mentor, announced on Monday, is $31 per share, a 92% premium to Mentor's closing price on Friday, although the shares traded above $40 at the start of 2008.

The acquisition underscores the interest in the market for plastic surgery and other aesthetic procedures even at a time when the rocky global economy may limit consumers' ability to pursue such options.

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