J&J TO BUY CARDIO TECHNOLOGY COMPANY ABIOMED FOR $16.6B

Johnson & Johnson is spending more than $16 billion to move deeper into treating heart disease and continue a shift started last year away from its consumer health roots. The health care giant said Tuesday that it will buy the cardiovascular technology company Abiomed, which makes a heart pump used on patients with severe coronary artery disease. The deal is expected to close early next year and will bolster J&J’s MedTech or medical device division. That’s one of two remaining segments, along with pharmaceuticals, that the company is focused on after announcing that it would split off its consumer health division that sells Band Aids and beauty products. The deal for Danvers, Massachusetts-based Abiomed will complement J&J’s existing heart business and comes with “significant” expansion opportunities, CEO Joaquin Duato told analysts during a…

You're reading a preview of

AppleMagazine (Digital) - 1 Issue, #575

DiscountMags is a licensed distributor (not a publisher) of the above content and Publication through Zinio LLC. Accordingly, we have no editorial control over the Publications. Any opinions, advice, statements, services, offers or other information or content expressed or made available by third parties, including those made in Publications offered on our website, are those of the respective author(s) or publisher(s) and not of DiscountMags. DiscountMags does not guarantee the accuracy, completeness, truthfulness, or usefulness of all or any portion of any publication or any services or offers made by third parties, nor will we be liable for any loss or damage caused by your reliance on information contained in any Publication, or your use of services offered, or your acceptance of any offers made through the Service or the Publications. For content removal requests, please contact Zinio.