The transaction will strengthen Johnson & Johnson’s digital surgery portfolio, by combining Verb Surgical’s robotics and data science capabilities
Johnson & Johnson Headquarters in New Brunswick, New Jersey, US. Credit: Ekem/Wikipedia.
Johnson & Johnson has signed an agreement to acquire the remaining stake in Verb Surgical, a joint venture company with Verily, an Alphabet company, for an undisclosed amount.
The proposed acquisition is aimed at combining the robotics and data science capabilities of Verb Surgical with Johnson & Johnson’s health care leadership and global footprint to enhance the less invasive and personalised medical interventions.
Johnson & Johnson medical devices worldwide chairman Ashley McEvoy said: “We have reached this important milestone thanks to the progress the Verb Surgical team has made with their digital surgery platform and the strong collaboration with Verily, Ethiconii, and the clinicians around the world who shared their passion, deep insights and clinical expertise.
“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.”
Acquisition of Verb Surgical will strengthen Johnson & Johnson’s digital surgery portfolio
Johnson & Johnson said that the transaction would strengthen its digital surgery portfolio through advanced robotics, enhanced visualization, advanced instrumentation, machine learning, data analytics and end-to-end connectivity.
Also, it intends to leverage Verb Surgical’s advanced robotics and data science expertise, and Verily’s digital technology and engineering expertise, to enhance medical interventions including open surgery, laparoscopic, percutaneous and endoluminal procedures.
Earlier this year, Johnson & Johnson acquired Auris Health, which accelerated the company’s entry into digital surgery with the Monarch Platform.
The company said that the VELYS Digital Surgery offers an orthopaedics platform, equipped with connected technologies, to obtain data insights for patients, surgeons, and health care systems, before, during and after surgery.
The transaction is expected to be completed, subject to antitrust clearance and customary closing conditions, in the first half of 2020.
Verily CEO Andrew Conrad said: “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.”