Ethicon, a Johnson & Johnson MedTech company, today announced the first robotic-assisted removal of kidney stones using the Monarch platform. Auris Health, an Ethicon subsidiary, received FDA clearance for Monarch for endourological procedures in May 2022. The University of California, Irvine’s UCI Health used the Monarch platform for urology to complete the first procedure. According […]
Johnson & Johnson
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 […]
DePuy Synthes to pay $9.75M to resolve surgeon kickbacks case
Johnson & Johnson’s DePuy Synthes has settled with federal prosecutors over allegations that it provided a Massachusetts-based surgeon with $100,000 worth of free products to win business. As part of the $9.75 million settlement agreement, DePuy Synthes admitted that it provided free cages, rods, screws, plates and modular access and retraction systems to the surgeon […]
The biggest medtech stock gainers, losers in 2022
In another roller coaster year for medtech, these are the companies that saw their stock rise and fall the most drastically. The MassDevice MedTech 100 Index, which includes stocks of the world’s largest medical device companies, reflects the performance of many in the medtech space. In a tough year for a lot of businesses, the Index […]
The top 10 cardiac device stories of 2022
From pulsed-field ablation to noninvasive monitoring, this was an exciting year for cardiac device tech. Here are the top 10 cardiac device stories from MassDevice and its sister sites: 10. Medtronic to pay Acutus $17M following EU MDR submission of left-heart access portfolio Earlier this year, Acutus agreed to sell its left-heart access portfolio to […]
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 […]
J&J’s Auris alleges former employees brought trade secrets to new company Noah Medical
Johnson & Johnson‘s Auris Health surgical robotics business filed litigation this week alleging misappropriation of trade secrets by Noah Medical. In its complaint filed in U.S. District Court in Northern California, Auris alleges “shameless, systematic and ongoing misappropriation of trade secrets” by Noah. It named former Auris employees Enrique Romo, Diana Cardona Ujueta and Kenneth […]
J&J leads $85M raise for HistoSonics
HistoSonics announced today that it raised $85 million in a financing round led by Johnson & Johnson Innovation. Minneapolis-based HistoSonics develops a novel sonic beam therapy. This uses histotripsy, which mechanically destroys and liquified unwanted tissue and tumors at sub-cellular levels. It develops the non-invasive Edison platform that combines imaging with proprietary sensing technology to […]
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 […]