Ethicon Announces Completion Of Acquisition Of NeuWave Medical
CINCINNATI, April 14, 2016 /PRNewswire-USNewswire/ -- In line with its commitment to help address the world's most pressing health care issues, and improve and save more lives, Ethicon, a medical device company of the Johnson & Johnson family of companies, today announced the completion of its acquisition of NeuWave Medical, Inc., a privately held medical device company that manufactures and markets minimally invasive soft-tissue microwave ablation systems. 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.
"Currently, there are limited treatment options for soft-tissue, non-resectable lesions," said Michael del Prado, Company Group Chairman of Ethicon. "Together with NeuWave Medical, Ethicon can bring minimally invasive treatment options to make a difference for patients around the world. This is especially important for patients who may not be medically eligible for traditional surgery. We can now offer physicians and patients more choice in treatment options for soft-tissue lesions."
NeuWave Medical's products are currently used by physicians in over half of the top cancer centers in the United States. 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.
"NeuWave Medical's unique 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," said Dan Sullivan, the CEO and President of NeuWave Medical. "This acquisition now provides NeuWave Medical with the ability to accelerate our innovation pipeline and expand the global footprint of our unique technologies, while allowing Ethicon to reach new patients by expanding the availability of a novel intervention that goes beyond surgical options in wide use today."
Financial terms of the transaction have not been disclosed.
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, and follow us on Twitter @Ethicon. 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 127,100 employees at more than 250 Johnson & Johnson operating companies work with partners in health care to touch the lives of over a billion people every day, throughout the world.
Cautions Concerning Forward-Looking Statements: This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding the acquisition of NeuWave Medical, Inc. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Ethicon, Inc., Ethicon Endo-Surgery, Inc. and Johnson & Johnson. Risks and uncertainties include, but are not limited to: the potential that the expected benefits and opportunities related to the acquisition may not be realized or may take longer to realize than expected; the ability of the Johnson & Johnson family of companies to successfully integrate the products, employees and operations of NeuWave Medical, Inc., as well as the ability to ensure continued performance or market growth of NeuWave Medical, Inc.'s products; competition, including technological advances, new products and patents attained by competitors; challenges to patents; the ability of the company to successfully execute strategic plans; uncertainty of commercial success for new products; impact of business combinations and divestitures; challenges inherent in new product development, including obtaining regulatory approvals; changes to applicable laws and regulations, including tax laws and global health care reforms; changes in behavior and spending patterns or financial distress of purchasers of health care products and services; and trends toward health care cost containment. A further list and description of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 3, 2016, including in Exhibit 99 thereto, and the company's subsequent filings. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Ethicon, Inc., Ethicon Endo-Surgery, Inc. and Johnson & Johnson do not undertake to update any forward-looking statement as a result of new information or future events or developments.
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