Ethicon Endo-Surgery, Inc. Completes Acquisition of SurgRx, Inc.
Complementary technologies expand company's advanced energy franchise to deliver broader choice for patient care
CINCINNATI, Oct. 16 /PRNewswire/ -- Ethicon Endo-Surgery announced today that it has completed the acquisition of SurgRx, Inc., following clearance under the Hart-Scott-Rodino Antitrust Improvement Act and similar regulations in other countries. SurgRx, Inc. is a privately held developer of the advanced bipolar tissue sealing system used in the ENSEAL family of devices. Ethicon Endo-Surgery announced its agreement to acquire SurgRx, Inc. on August 11, 2008. Terms of the transaction were not disclosed.
This acquisition brings together two leading, complementary energy technologies in the rapidly evolving global energy segment. The combined portfolio of ENSEAL products and the Ethicon Endo-Surgery HARMONIC line of ultrasonic medical devices will offer greater functionality and flexibility for diverse surgical procedure requirements.
"The R&D expertise and rich history of innovation of the two companies will enable us to identify emerging patient and surgeon needs and deliver critical solutions to the market more quickly," said Karen Licitra, Company Group Chairman and Worldwide Franchise Chairman, Ethicon Endo-Surgery. "This will serve as a key differentiator in the dynamic advanced energy space."
About Ethicon Endo-Surgery
Ethicon Endo-Surgery, Inc., a Johnson & Johnson company, develops and markets advanced medical devices for minimally invasive and open surgical procedures, focusing on procedure-enabling devices for the interventional diagnosis and treatment of conditions in general and bariatric surgery, as well as gastrointestinal health, gynecology and surgical oncology. More information can be found at www.ethiconendo.com.
(C)2008 Ethicon Endo-Surgery, Inc.
HARMONIC is a trademark of Ethicon Endo-Surgery, Inc.
ENSEAL is a trademark of SurgRx, Inc.
(This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from Ethicon Endo-Surgery's expectations and projections. Risks and uncertainties include general industry conditions and competition; economic conditions, such as interest rate and currency exchange rate fluctuations; technological advances and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approvals; domestic and foreign health care reforms and governmental laws and regulations; and trends toward health care cost containment. A further list and description of these risks, uncertainties and other factors can be found in Exhibit 99 of Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 30, 2007. Copies of this Form 10-K, as well as subsequent filings, are available online at www.sec.gov , www.jnj.com or on request from Johnson & Johnson. Ethicon Endo-Surgery does not undertake to update any forward-looking statements as a result of new information or future events or developments.)
CONTACT: Wendy Dougherty of Ethicon Endo-Surgery, +1-513-337-8281; or
Louise Mehrotra, +1-732-524-6491, Stan Panasewicz, +1-732-524-2524, both of
Johnson & Johnson
Web site: http://www.ethiconendo.com/