Research & Development
Johnson & Johnson MedTech acquires Laminar in USD400m deal
30 November 2023 -

Johnson & Johnson MedTech, part of healthcare products company Johnson & Johnson (NYSE:JNJ), confirmed on Thursday that it has completed its acquisition of Laminar Inc, a privately-held medical device company with a focus on eliminating the left atrial appendage (LAA) in patients with non-valvular atrial fibrillation (AFib) to reduce the risk of stroke.

The purchase price was USD400m upfront, subject to adjustments, plus potential milestone payments in 2024 and beyond. Laminar now operates as part of cardiac arrhythmia specialist Biosense Webster Inc.

Approximately 38 million patients around the world are living with AFib, which is associated with a fivefold stroke risk. Laminar's innovative device uses rotational motion to eliminate the LAA, compared with existing commercial catheter-based procedure devices which use plugs to occlude the LAA.

FDA approval for the US pivotal study has been secured, with enrolment slated for early 2024.

LAA closure is an FDA-approved therapy for reducing the risk of thromboembolism in atrial fibrillation patients who are recommended for chronic oral anticoagulation therapy but have an appropriate rationale to seek a non-pharmacologic alternative to chronic oral anticoagulants. This is particularly important for the nearly 40% of AFib patients who cannot tolerate long-term blood thinners.

This acquisition necessitates an in-process research and development charge, impacting Johnson & Johnson's adjusted EPS for fiscal year 2023. The updated operational and reported adjusted EPS ranges for 2023 are USD9.85 to USD9.91 and USD9.90 to USD9.96, respectively. Fiscal year 2024 is anticipated to see an approximate negative USD0.15 EPS impact due to this asset acquisition.