Ethicon Announces Agreement to Acquire NeuWave Medical, Inc.
NeuWave Medical Technology Offers Minimally Invasive Intervention Option for Patients with Soft Tissue Lesions
CINCINNATI - Ethicon, a medical device company of the Johnson Johnson family of companies, today announced a definitive agreement to acquire NeuWave Medical, Inc., a privately held medical device company that manufactures and markets minimally invasive soft tissue microwave ablation systems. Their products are currently used by physicians in over half of the top cancer centers in the United States. This acquisition is consistent with the Johnson Johnson Medical Devices' strategy of advancing innovation and investing in areas of unmet medical needs such as surgical oncology. Financial terms of the transaction have not been disclosed.
NeuWave Medical's ablation technology was originally developed by physicians and microwave scientists from the University of Wisconsin to maximize energy delivery to tissue, minimize invasiveness and provide physician-friendly workflow. NeuWave Medical's Certus ® 140 ablation system's high-powered computer and intuitive touchscreen interface enables activation of single or simultaneous multiple probe procedures for patients with soft tissue lesions. This allows physicians to effectively tailor ablations for lesions of varying shapes and sizes. NeuWave Medical's probe family includes conventional probes and the only Precision™ PR probe to limit the ablation length, allowing precise and controlled ablations.
"We continue to work to push the boundaries of access and treatment for patients for whom traditional surgery may not be an option today," said, Michael del Prado, Group Company Chairman of Ethicon. "The market-leading technology and expertise that NeuWave Medical has developed is minimally invasive and can be combined with other therapies to improve outcomes for patients. Additionally, for healthcare systems, this offering can potentially translate to a lower overall financial burden as well."
The closing of the transaction is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions. The transaction is expected to close during the second quarter of 2016.
From creating the first sutures, to revolutionizing surgery with minimally invasive procedures, Ethicon has made significant contributions to surgery for more than 60 years. Our continuing dedication to Shape the Future of Surgery is built on our commitment to help address the world's most pressing health care issues, and improve and save more lives. Through Ethicon's surgical technologies and solutions including sutures, staplers, energy devices, trocars and hemostats and our commitment to treating serious medical conditions like obesity and cancer worldwide, we deliver innovation to make a life-changing impact. Learn more at www.ethicon.com. Ethicon represents the products and services of Ethicon, Inc., Ethicon Endo-Surgery, Inc. (the signing party) and certain of their affiliates.
About Johnson Johnson
Caring for the world one person at a time inspires and unites the people of Johnson & Johnson. We embrace research and science - bringing innovative ideas, products and services to advance the health and well-being of people. Our approximately 128,000 employees at more than 265 Johnson & Johnson operating companies work with partners in health care to touch the lives of over a billion people every day, throughout the world.
Web Site: http://www.ethicon.com