Johnson & Johnson announced that it will be acquiring Auris Health Inc. – a surgical robotics firm for $3.4 billion in an all-cash deal.
Johnson & Johnson believes that good health is the foundation of vibrant lives, thriving communities, and forward progress. Focused on creating the next of surgery, Johnson & Johnson announced the acquisition of one of the promising surgery robotics firm – Auris.
Auris Health Inc. is transforming medical intervention with the introduction of the Monarch Platform. With the Monarch Platform, Auris seeks to leverage the power of flexible robotics to enable new possibilities in endoscopy, which uses small cameras and tools to enter the body through its natural openings.
Auris’s mission is to serve patients. They believe in a world where patient care is no longer determined by the limitations of current tools. The firm creates a platform that enhances physician capabilities, evolve minimally invasive techniques, and create new categories of care that redefine optimal patient outcomes.
The acquisition is a sign that J&J is putting an effort to enter the healthcare robotics market. The deal also gives the drug-giant a lung-cancer diagnostic and treatment tool since Auris is initially focused on lung cancer.
The Executive Vice President, Worldwide Chairman and Medical Devices of Johnson & Johnson, Ashley McEvoy, said that in this new era of health care, they are aiming to simplify surgery, drive efficiency, reduce complications and improve outcomes for patients, ultimately making surgery safer. In addition, she also said that they believe the combination of best-in-class robotics, advanced instrumentation and unparalleled end-to-end connectivity will make a meaningful difference in patient outcomes.
J&J is continuously working to disrupt medical innovation. It continues to make meaningful investments in transforming the surgical experience. Auris will support drug-maker giant’s vision of being a world leader across the continuum of surgical approaches.
As part of the deal, CEO and Founder of Auris Health, Frederic Moll, M.D., will be joining Johnson & Johnson team. Moll said that they are 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. Together, they will be able to dramatically accelerate their collective product innovation to develop new interventional solutions that redefine optimal patient outcomes.
The agreement also includes additional payments of $2.35 billion to Auris based in milestones. The transaction is expected to close by the end of the second quarter of 2019.