CINCINNATI, Jan. 20, 2017 /PRNewswire/ -- Ethicon
Endo-Surgery, Inc. announced today that it has acquired Megadyne
Medical Products, Inc., a privately held medical device company
that develops, manufactures and markets electrosurgical tools used
in operating rooms worldwide. The acquisition brings together the
intelligence of Ethicon's* advanced energy devices with Megadyne's
innovative portfolio of electrosurgical tools representing a major
step forward in Ethicon's goal to deliver the most comprehensive
suite of intelligent energy solutions that enhance precision and
efficiency in the operating room. Financial terms of the
transaction have not been disclosed.
"We are committed to meeting the evolving needs of surgeons and
hospital systems, and the addition of Megadyne's state-of-the-art
portfolio gives us a comprehensive suite of energy devices to
improve patient care in surgeries across all specialties," said
Michael del Prado, Company Group
Chairman of Ethicon. "This acquisition will help accelerate and
expand innovation across the entire energy portfolio, broadening
our surgical and energy solutions to provide clinical and economic
value to customers worldwide."
Electrosurgical devices are used in nearly four out of every
five surgeries. Megadyne complements Ethicon's advanced energy
tools with world class products that include monopolar and bipolar
electrodes, patient return electrodes, generators and smoke
evacuation systems. The addition of Megadyne's electrosurgical
portfolio significantly enhances Ethicon presence in the
multi-billion dollar global energy market providing significant
value to hospital systems and surgeons and reach more patients
worldwide.
"Megadyne shares Ethicon's commitment to bringing innovative
solutions to surgeons and hospital systems worldwide," said
Megadyne Chief Executive Officer Rob
Farnsworth. "We are excited about working together to bring
more elegant electrosurgical tools to a broader market through
Ethicon's extended global network."
About Ethicon
From creating the first sutures, to
revolutionizing surgery with minimally invasive procedures,
Ethicon, part of the Johnson & Johnson Medical Devices
Companies (NYSE: JNJ), 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.
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 Megadyne
Medical Products, 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 Endo-Surgery, Inc., any of the other Ethicon
companies 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 Ethicon to successfully integrate the products, employees and
operations of Megadyne Medical Products, Inc., as well as the
ability to ensure continued performance or market growth of
Megadyne Medical Products, 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; product efficacy or safety
concerns resulting in product recalls or regulatory action;
manufacturing difficulties and delays; 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 Endo-Surgery, Inc.,
the Ethicon companies and Johnson & Johnson do not undertake to
update any forward-looking statement as a result of new information
or future events or developments.
* Ethicon represents the products and services of Ethicon, Inc.,
Ethicon Endo-Surgery, Inc. and certain of their affiliates.
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SOURCE Johnson & Johnson