Daily Newsletter

01 December 2023

Daily Newsletter

01 December 2023

Johnson & Johnson MedTech acquires heart implant company Laminar for $400m

The deal, which will also include potential clinical and regulatory milestone payments in 2024 and beyond, will see Laminar join J&J’s Biosense Webster division.

Robert Barrie December 01 2023

Johnson & Johnson (J&J) MedTech has made an upfront payment of $400m to acquire the privately held company Laminar, a US-based developer of a heart implant that reduces the chance of stroke.

The completed deal, which also includes additional potential clinical and regulatory milestone payments, will see Laminar join J&J as part of its Biosense Webster division, according to a 30 November press release.

Shares in J&J were up 1.7% at the market close on 30 November, compared to the pre-announcement market close on 29 November. The company has a market cap of $372bn.

As a result of the deal, J&J adjusted its profit projections due to necessary research and development. The company reduced operational and reported Adjusted EPS by approximately $0.17 and expects a $0.15 EPS hit in 2024.

Laminar’s device is being developed to eliminate the left atrial appendage (LAA) in patients with non-valvular atrial fibrillation. The appendage is a small pouch in the left atrium that can be a source of clots, which can enter the bloodstream and cause strokes.

Laminar says its implant, unlike other commercial products such as those from Abbott and Boston Scientific, uses rotational motion to eliminate the LAA. Abbott and Boston Scientific’s implants use occlusion to seal off the appendage from the bloodstream.

This week, Medtronic launched its LAA device called Penditure in the US. The US Food and Drug Administration (FDA)-cleared clip, acquired from Syntheon in August 2023, is designed to be used during concomitant cardiac surgery procedures.

A market model by GlobalData estimates the global clot management device market will be worth $1.3bn in 2024.

The FDA recently approved Laminar’s pivotal study, which is expected to begin enrolment in early 2024.

J&J says around 38 million people globally live with atrial fibrillation. For those who cannot tolerate blood thinners on a long-term basis, LAA closure is an important procedure for reducing thromboembolism risk.

Laminar CEO Randy Lashinski said: “For the millions of people living with atrial fibrillation, stroke risk is a major concern. The team at Laminar is driven by our vision to develop and deliver an innovative solution to help patients live without the fear of stroke or the need for long-term use of blood thinners.”

The aging population is a captive market for medical devices

The rising number of older individuals globally is accompanied by increasing health concerns, presenting unique demand for the medical device industry. With rising pressure on governments, payers, and manufacturers to reduce healthcare costs, innovative medical technologies have tremendous potential to improve elder care. Advancements in medical device technology have resulted in a significant increase in the number of conditions that can be managed in a home care setting. To capitalize on this strong demand and growth, manufacturers are increasingly producing consumer-targeted equipment.

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