Categories AlphaGraphs, Health Care, Markets
Johnson & Johnson buys Auris Health to boost medical devices business
Establishing its foray into robotic health products, pharmaceutical giant Johnson & Johnson (JNJ) on Wednesday announced it was acquiring California-based Auris Health in a cash deal valued at approximately $3.4 billion.
Auris Health specializes in robotic technologies and has an FDA-approved platform used in bronchoscopic procedures. The addition of Auris Health is expected to boost Johnson & Johnson’s ailing medical devices unit, where sales declined 4% in the last reported quarter.

The latest acquisition will be complemented by the pharmaceutical giant’s partnership with Alphabet’s (GOOGL) Verily, which was inked in 2015 with an aim to develop surgical robots.
JNJ shares were slightly up during the morning trading hours. The stock has gained 3.4% during the prior 12-month period.
Worldwide Chairman, Medical Devices at Johnson & Johnson, Ashley McEvoy, said, “We believe the combination of best-in-class robotics, advanced instrumentation, and unparalleled end-to-end connectivity will make a meaningful difference in patient outcomes.”
Founder and CEO of Auris Health Frederic Moll will join Johnson & Johnson upon the completion of this transaction.
“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,” Dr Moll said.
The transaction is expected to close by the end of the second quarter of 2019.
Follow our Google News edition to get the latest stock market, earnings, and financial news at your fingertips
Most Popular
Infographic: Nvidia (NVDA) Q4 revenue up 61%; earnings beat
Nvidia Corporation (NASDAQ: NVDA) Wednesday said its fourth-quarter revenues and profit increased in double-digits amid elevated demand. The results also topped the Street view, driving the stock higher during the
Nutanix (NTNX) Earnings: 2Q21 Key Numbers
Nutanix (NASDAQ: NTNX) reported second quarter 2021 earnings results today. Total revenue remained flat at $346.4 million compared to the same period a year ago. GAAP net loss was $287.3
Macy’s (M) expects digital channels to generate approx. $10 billion in sales by 2023
Shares of Macy’s Inc. (NYSE: M) were down 2.7% in morning trade on Wednesday. The stock has gained 37% since the beginning of the year. A day ago, the retailer