Johnson & Johnson’s (NYSE:JNJ) Ethicon Endo-Surgery division finished its acquisition of Minnesota-based medical device reprocessor SterilMed Inc for an undisclosed amount.
SterilMed reprocesses medical devices and provides equipment repair and pre-owned equipment sales services. Johnson & Johnson said it plans to keep the SterilMed brand running as it integrates the business into the EES segment.
"Today we take another step forward in our strategy to provide hospitals and clinicians with a full portfolio of solutions that address pressing healthcare needs," Karen Licitra, EES’s worldwide franchise chairman said in prepared remarks.
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In conjunction with the merger, SterilMed named med-tech industry veteran Mike Gustafson company president.
Gustafson, a 23-year J&J veteran, will take over for SterilMed’s outgoing chairman & CEO, Brian Sullivan, who plans to retire after a transitional period.
"I am confident Mike will prove to be an excellent leader to take SterilMed to the next level," said Sullivan in prepared remarks. "I believe SterilMed is in a strong position with a great new opportunity to work with EES to serve customers and grow our business."