Is J & amp;J Becoming a Surgical Robotics Powerhouse?

Johnson & Johnson is making some significant noise in the surgical robotics space today as it is announcing a deal that would have it acquire Auris Health for $3.4 billion. The deal also calls for additional contingent payments of up to $2.35 billion in the event of Auris reaching certain milestones. J&J would make the acquisition through its Ethicon subsidiary. Redwood City, CA-based Auris Health develops robotic technologies that have been focused on lung cancer. The firm has the Monarch Platform, an FDA cleared system currently used in bronchoscopic diagnostic and therapeutic procedures. In November of 2018, Auris raised $200 million to help with the commercialization of the technology At the time, the firm said it had raised more than $700 million to develop the technology. Auris’ Monarch Platform robotic technology will also play an important role within the Lung Cancer Initiative at Johnson & Johnson (LCI). Recall in January, that Johnson and Johnson added more pieces to the LCI puzzle by announcing a strategic partnership that would lead to stronger lung cancer detection tests with Veracyte. Frederic Moll, M.D., CEO and Founder of Auris Health, will be joining J&J upon completion of this transaction, which is set for 2Q19. Moll has an extensive resume in the robotics field. Not only has he served as the CEO and founder of Hansen Medical, but he also co-founded Intuitive Surgical one of the largest players in the surgical robotics marke...
Source: MDDI - Category: Medical Devices Authors: Tags: Business Digital Health Source Type: news