Johnson & Johnson (NYSE:JNJ) today said it inked a deal with Google (NSDQ:GOOG) to develop a robot-assisted surgery program, aiming to enter a market dominated by Intuitive Surgical (NSDQ:ISRG) and its da Vinci device.
New Brunswick, N.J.-based J&J said its Ethicon subsidiary and Google will work on "an innovative robotic-assisted surgical platform capable of integrating advanced technologies with the goal of improving healthcare delivery in the operating room."
"For more than 60 years, Ethicon has developed products and technologies that have transformed the way surgery is done," global surgery worldwide chairman Gary Pruden said in prepared remarks. "This collaboration with Google is another important step in our commitment to advancing surgical care, and together, we aim to put the best science, technology and surgical know-how in the hands of medical teams around the world."
Financial terms of the deal, expected to close during the 2nd quarter, were not disclosed.
JNJ shares ticked up 0.5% to $100.59 apiece in mid-morning trading today. GOOG shares were down -0.9% to $558.58 each.