Johnson & Johnson MedTech Acquires Laminar to Enter Left Atrial Appendage Closure Market Amid Major Industry Shifts
Johnson & Johnson
Medical Device R&D and Manufacturer
On November 30, Johnson & Johnson Medical announced the completion of its acquisition of Laminar, a left atrial appendage device manufacturer, for a $400 million upfront payment, with additional clinical and regulatory milestone payments expected to be made after next year.
Public information shows that Laminar, an innovative medical device company established in 2019, is committed to eliminating the left atrial appendage (LAA) in patients with non-valvular atrial fibrillation through innovation. Johnson & Johnson's direct purpose of acquiring Laminar is very clear — to take over Laminar’s core product, the Laminar LAA, and enter the electrophysiology LAA device field.
Notably, this marks Johnson & Johnson Medical’s first acquisition following a leadership change. It is also the first "product line expansion" for Johnson & Johnson’s electrophysiology division since welcoming a new president in May. This significant acquisition further intensifies competition in the left atrial appendage (LAA) closure market.
Before Johnson & Johnson's move, this niche market already had established devices such as Abbott's Amplatzer Amulet and Boston Scientific's Watchman. Medtronic's Penditure LAA exclusion system, launched this week, is also one of them.
On November 27, Medtronic announced that the left atrial appendage occluder Penditure, acquired in August this year from the well-known medical incubator Syntheon, had received FDA approval for marketing. According to Medtronic, this is currently the only left atrial appendage occlusion clip that can be recaptured, repositioned, and redeployed after deployment during surgery.
As Johnson & Johnson Medical, Medtronic, and other giants increase their investments, along with the rapid development of domestic companies in China, the market landscape in this field may be rewritten.
What "medical device" news is worth paying attention to in the medical device industry this week? Insights into new industry policies, observations of corporate updates, and a review of market investments and financing, all tracked and reported by the Pharmaceutical Economy News!
1. The Fourth Batch of National Medical Consumables Collection Bidding Opens
On November 30, the fourth round of China's national procurement for high-value medical consumables was held in Tianjin, with proposed winning bids announced. This procurement covers two major categories of medical consumables: artificial crystals and sports medicine. The selected products achieved an average price reduction of around 70%. Specifically, artificial crystal-related consumables saw an average price drop of 60%, saving an estimated 3.9 billion yuan annually. Sports medicine-related consumables had an average price reduction of 74%, saving an estimated 6.7 billion yuan per year. This procurement significantly benefits cataract patients undergoing crystal implants and patients requiring sports medicine surgeries due to muscle and ligament injuries from work or sports, enhancing public satisfaction.
A total of 128 companies participated in this centralized procurement, with products from 126 companies being selected as candidates, achieving a selection rate of 98%. Leading domestic and international companies with high market shares have had their products selected, maintaining clinical use stability and ensuring a rich and diverse product supply.
2. The 31+28 Provincial Alliance Medical Consumables Procurement Initiates
On November 29, the Zhejiang Province Pharmaceutical and Medical Device Procurement Center released the "Notice on Publishing the Document for the Inter-Provincial Alliance Centralized Bulk Procurement of Infusion Pumps (ZJHCCG-2023-02)" and the "Notice on Publishing the Document for the Inter-Provincial Alliance Centralized Bulk Procurement of Coronary Intravascular Ultrasound Diagnostic Catheters (ZJHCCG-2023-01)."
The centralized volume-based procurement cycles for the two types of medical consumables are both 3 years, calculated from the actual implementation date of the selected results in the alliance regions. The first-year agreement procurement volume will be implemented starting from May to June 2024, with the specific implementation date determined by the alliance regions. Provinces that have independently carried out centralized volume-based procurement of infusion pumps and are still within the procurement agreement period may extend the execution of the selected results from this round of procurement.
1. Philips: Class I Recall
On November 28, the National Medical Products Administration issued a product recall announcement: Due to unexpected product malfunctions, Philips has initiated a Level 1 recall for the medical magnetic resonance imaging system (Panorama HFO).
Level 1 Recall refers to medical devices that may or have already caused serious health hazards, and is the most severe level of recall. The documents show that the recalled medical magnetic resonance imaging systems are used for clinical MRI diagnosis. Philips learned that during the magnet quench, excessive helium pressure unexpectedly occurred, causing a failure in the structural integrity of system components, prompting a voluntary recall. This Philips recall is global, with three units involved in the China region.
Philips China pointed out that, as of now, no reports of bodily harm caused by this issue have been received. The company will issue proactive recall notification letters to affected customers, instructing them to immediately stop using the recalled products, take measures to avoid corresponding issues, and arrange for engineers to inspect the site.
2. The Pioneer of Tumor Electric Field Therapy Lays Off 200 Employees
On November 28, Novocure announced a series of action plans to strengthen and optimize business operations, supporting near-term growth momentum and long-term value creation. The plan is expected to reduce approximately $60 million in remaining operating expenses, including planned layoffs of about 200 employees, with an anticipated one-time cost related to the layoffs of approximately $7 million in the fourth quarter of 2023.
Data shows that Novocure is a global oncology company and a pioneer in Tumor Treating Fields (TTFields) therapy. Novocure gained recognition in 2011 by launching the world's first FDA-approved TTFields therapy. In September 2018, Zai Lab entered into an agreement with Novocure to obtain the rights to its TTFields therapy, Optune, in Greater China.
1. SAILU Medical Completes Hundreds of Millions of Yuan in Series A Financing
Sailu Medical Recently Announces Completion of Series A Financing Round Worth Hundreds of Millions. This round of financing was led by Shenzhen Capital Group, co-led by Qianhai Mother Fund and Boyuan Capital, with participation from Bangqin Capital, Dunxing Capital, and Yazhouwan Venture Capital. The funds will be used for the ongoing research, development, and registration of Sailu Medical's proprietary gene sequencing platform and spatial omics products, as well as for global commercial expansion.
Sailu Medical, established in October 2020, focuses on developing upstream sequencing platforms with independent intellectual property rights and internationally leading super-resolution spatial omics platforms. The company is committed to the technological iteration and innovation of scientific instruments, breaking industry monopolies while providing high-quality solutions for the growing clinical and research needs.
2. Boshikang Completes Tens of Millions of Yuan in Series A Financing, Accelerating Market Promotion of "Optical-Magnetic Integrated Surgical Navigation System"
Recently, it was reported that Chongqing Boshikang Technology Co., Ltd., a leading manufacturer of integrated optical-magnetic navigation systems in China, has completed a multi-million-yuan Series A round of financing jointly invested by Zhongxi Life and Dachuang Ruifeng. The funds from this round will be used for the market promotion of the company's core product, the sub-millimeter high-precision "integrated optical-magnetic spinal surgery navigation system," as well as the research and development of subsequent new products, to further drive Boshikang's continuous growth in the field of precision minimally invasive surgery.
Relying on years of technical沉淀 and clinical experience in the field of precise minimally invasive surgical surgery, Boshi康 has comprehensively laid out surgical instruments, tools, and disposable耗材 in the fields of sports medicine, neurosurgery, and otorhinolaryngology. In addition to the光磁一体手术navigation equipment, the company has also completed the research and development and production of specialized surgical tools for cervical, thoracic, and lumbar椎 navigation, minimally invasive spinal surgical instruments, a cervical and lumbar椎 minimally invasive surgical retraction system, a microscopic conical working channel system, and an intervertebral foramen targeted shaping system, laying the foundation for the implementation of an overall operating room solution layout.
Editor: Mingyao
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