Johnson & Johnson has agreed to buy surgical robotics company Auris Health Inc. for about $3.4 billion in cash, in a deal that would give the drug giant a lung-cancer diagnostic and treatment tool.

Under the terms of the deal, announced Wednesday, J&J could also make additional payments of up to $2.35 billion to Auris based on milestones, the people said. Auris, a closely held firm led by industry veteran Fred Moll, has developed robotic surgical scopes operated with a handheld device that are steered into patients' lungs to identify cancerous tumors.

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