Johnson & Johnson is letting go of nearly 350 employees in the surgical robotics space, according to layoff notices filed in California at the beginning of this month. The WARN notices list layoffs involving 292 workers at Auris, 47 at Verb Surgical, and four at Ethicon Endo-Surgery. All of the jobs were based in Santa […]
Search Results for: Johnson & Johnson
Johnson & Johnson is cutting jobs in its MedTech business
Johnson & Johnson announced restructuring and layoffs to employees over the past week that could eliminate at least 1,000 jobs, according to people inside and outside of the company. The reorganization included folding the company’s Mitek Sports Medicine business into another business, according to Rajit Kamal, the outgoing worldwide president of sports medicine and shoulder […]
Johnson & Johnson, 3M stocks down on ‘Texas two-step’ decision
Johnson & Johnson (NYSE:JNJ) stock dropped more than 3% in value today after a federal appeals court rejected its complex legal maneuver to shield itself from liability in talc-related lawsuits. 3M (NYSE: MMM) — which has also been seeking to do a “Texas two-step” to shield itself from liability in military earplug lawsuits — was […]
Johnson & Johnson reports mixed Q4 results amid shaky economy
Johnson & Johnson (NYSE:JNJ) today reported Q4 results that beat The Street on earnings but missed on revenue amid continued macroeconomic challenges. The company’s Pharmaceutical business saw sales grow 6.8%. Meanwhile, Johnson & Johnson MedTech — fresh off its $16.6 billion acquisition of Abiomed — was up 6.1%. Electrophysiology products in Interventional Solutions, contact lenses […]
Johnson & Johnson completes $16.6B Abiomed acquisition
Johnson & Johnson (NYSE:JNJ) announced today that it completed its $16.6 billion acquisition of Abiomed (Nasdaq:ABMD). Abiomed now becomes part of Johnson & Johnson, operating as a standalone business within its MedTech segment. “We are excited to officially welcome the talented Abiomed team to Johnson & Johnson. Their patient-first philosophy aligns with our credo and our […]
Johnson & Johnson extends tender offer for Abiomed acquisition
Johnson & Johnson (NYSE:JNJ) announced today that it extended the expiration date of its offer to acquire Abiomed (Nasdaq:ABMD). Last month, Johnson & Johnson announced its intention to acquire Abiomed for approximately $16.6 billion. Under the agreement, Johnson & Johnson intends to acquire through tender offer all outstanding Abiomed shares. The deal includes an upfront payment […]
Johnson & Johnson elects CEO Joaquin Duato as board chair
Johnson & Johnson (NYSE:JNJ) announced that its board of directors elected CEO Joaquin Duato to take the position of board chair. Duato succeeds Alex Gorsky, who intends to step down from the role following a brief transitional period. The appointment of Duato becomes effective in January 2023. In August 2021, Gorsky announced plans to hand […]
Abiomed stock skyrockets on Q3 results ahead of Johnson & Johnson acquisition
Abiomed (Nasdaq:ABMD) shares soared before hours on third-quarter results and the news of its acquisition by Johnson & Johnson (NYSE:JNJ). Johnson & Johnson announced this morning that it agreed to buy Abiomed for $16.6 billion. Shares of ABMD skyrocketed up more than 50% at $378.30 apiece in morning trading today. MassDevice‘s MedTech 100 Index, which includes […]
Johnson & Johnson to acquire Abiomed for $16.6B
Johnson & Johnson (NYSE:JNJ) announced today that it agreed to acquire Abiomed (Nasdaq:ABMD) for approximately $16.6 billion. Under the agreement, Johnson & Johnson intends to acquire through tender offer all outstanding Abiomed shares. That amounts to an upfront payment of $380 per share in cash. Johnson & Johson plans to complete the transaction before the […]
How Johnson & Johnson is looking to lead the way in ablation
Celine Martin, Johnson & Johnson group chair, cardiovascular & specialty solutions (CSS) group, oversees high-growth areas at the company’s global MedTech business. Her leadership covers Acclarent, Biosense Webster, Cerenovus and Mentor. Together, those companies bring in more than $5 billion in annual sales with more than 14,000 employees. Over 25 years at Johnson & Johnson, […]
Johnson & Johnson beats The Street in Q3, MedTech sales rise
Johnson & Johnson (NYSE:JNJ) today reported third-quarter results that topped the consensus forecast, with MedTech business sales up more than 2%. The New Brunswick, New Jersey-based company posted profits of $4.5 billion, or $1.68 per share in the quarter. It pulled in sales of $23.8 billion for the three months ended Sept. 30, 2022. That […]
