Johnson & Johnson announced an agreement to acquire the remaining stake in Verb Surgical Inc. following a collaboration with Verily.
Ashley McEvoy, Worldwide Chairman, Medical Devices, Johnson & Johnson, said, “We are building a truly differentiated digital surgery ecosystem to change the standard of care for generations to come, and our collaboration with Verily has enabled us to advance our vision to help improve outcomes for patients around the world.”
Andrew Conrad, CEO of Verily, added, “With Verb Surgical, we set out with an ambitious mission to successfully harmonize the talent and expertise of two pioneers to design a platform with the potential to transform surgery. This evolution in the collaboration recognizes the significant achievement toward that mission and I’m excited for the future of this technology in Johnson & Johnson’s hands.”
Johnson & Johnson has a presence in almost every operating room in the world and surgery products used in 75 million procedures each year. The acquisition of Auris Health, Inc. earlier this year accelerated Johnson & Johnson’s entry into digital surgery with the Monarch Platform.
The transaction is expected to close in the first half of 2020, subject to antitrust clearance and customary closing conditions. Financial terms of this transaction are not being disclosed.
