J&J to augment surgical offerings with $3.4B acquisition of robotics firm Auris Health
Weeks after Bloomberg reported J&J $JNJ was mulling a bid for robotics firm Auris Health, the health conglomerate on Wednesday said it would fork out $3.4 billion in cash for the privately held developer of robotic tools for lung cancer to beef up its arsenal of surgical interventional and diagnostic products.
The Band-aid maker generated medical device sales of nearly $27 billion last year, of which about $1.34 billion came from surgical product sales. Auris’ product, which is cleared by the FDA for use in bronchoscopic diagnostic and therapeutic procedures, allows doctors to better access small and hard-to-reach lung nodules early. Auris has plans to develop the platform beyond lung cancer, but in its current form, it will complement J&J’s Lung Cancer Initiative, empowering the large pharmaceutical company to help manage lung cancer — one of the most lucrative pharmaceutical fields — from diagnosis to intervention.
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