Johnson & Johnson (NYSE:JNJ) MedTech, the company’s medical device business, announced today it finalized the acquisition of Laminar, a private medical device company specializing in addressing the left atrial appendage (LAA) in patients with non-valvular atrial fibrillation (AFib).
The acquisition involved an upfront payment of $400 million. Additionally, there are potential milestone payments related to clinical and regulatory achievements in 2024 and beyond.
Laminar is now integrated into Johnson & Johnson MedTech as part of Biosense Webster, a prominent global leader in the treatment of cardiac arrhythmias.
“For the millions of people living with AFib, stroke risk is a major concern. The team at Laminar is driven by our vision to develop and deliver an innovative solution to help patients live without the fear of stroke, or the need for long-term use of blood thinners,” said Randy Lashinski, President & CEO, Laminar.
As a result of the acquisition of Laminar, Johnson & Johnson (JNJ) is revising its profit outlook for the fiscal year 2023.
The company said that the asset acquisition will necessitate an in-process research and development charge, resulting in a reduction of both operational and reported adjusted EPS by approximately $0.17 from the previously provided guidance.
The updated range for adjusted EPS is now $9.90 to $9.96, below the consensus of $10.09.
JNJ shares were trading modestly lower in pre-market Thursday.