Feb 13 2019
Auris was featured on MedCity News, an online publication covering the business of healthcare innovation, for its recent acquisition by Johnson & Johnson. Seeking to expand their digital surgery business, J&J paid $3.4 billion in cash to acquire Auris. Auris is also eligible to receive up to $2.3 billion in additional payments from J&J after hitting predetermined milestones. Auris will be included as part of Ethicon, J&J's medical device subsidiary.
This acquisition builds upon a previous deal to combine Auris's Monarch Plarform with J&J's Neuwave Flex Microwave Ablation System. Analysts as SVB Leerink view the acquisition as a positive move for J&J because it reinforces the company's commitment to robotics and gives them early entry into the robotics market with the Monarch Platform. The platform, which was cleared by the FDA for bronchoscopic procedures including lung cancer diagnosis in 2018, The platform allows physicians to biopsy and treat hard-to-reach cancerous tumors in the periphery of the lungs.
Dr. Fred Moll, CEO of Auris Health, will be joining J&J when the deal closes. Moll said the following of the acquisition: "We're thrilled to be joining Johnson & Johnson to help push the boundaries of what is possible in medical robotics and improve the lives of patients across the globe. This combination is a testament to the incredible work of the Auris Health team and the innovation engine behind the Monarch Platform, which represents a huge step forward in endoluminal technology."
Depending on regulatory clearance, the deal between Auris and J&J is expected to close by the second quarter of 2019.Read the Full Article on MedCity News