NEW BRUNSWICK: Johnson & Johnson MedTech, a division of Johnson & Johnson that focuses on medical intervention solutions, announced today that it has completed the acquisition of Laminar Inc., a privately-held medical device company that specializes in eliminating the left atrial appendage (LAA) in patients with non-valvular atrial fibrillation (AFib).

The deal was worth $400 million upfront, with additional potential milestone payments in 2024 and beyond.

Biosense Webster is the global leader in the science and technology behind the diagnosis and treatment of cardiac arrhythmias, and part of Johnson & Johnson MedTech.

“We are excited to welcome Laminar to Johnson & Johnson MedTech,” said Jasmina Brooks, President, Biosense Webster.

“Laminar’s innovative approach will provide Biosense Webster the opportunity to expand our portfolio in this high growth market, complement our electrophysiology and Intracardiac Echo strengths, and deepen our presence with interventional cardiologists and electrophysiologists. Fueled by the global scale and commercial and clinical strength of Biosense Webster, we are excited to explore the possibilities ahead to reach even more patients with critical unmet need.”

Laminar, Inc. has developed a novel device that uses rotational motion to eliminate the LAA, a small pouch in the left atrium of the heart that can be a source of clots that can cause strokes in AFib patients. Laminar’s device is different from the current commercial devices that use plugs to occlude the LAA. Laminar recently received FDA approval for the U.S. pivotal study, which will begin enrollment in early 2024.

LAA closure is an FDA-approved therapy for reducing the risk of stroke in AFib patients who are recommended for chronic oral anticoagulation therapy but have an appropriate rationale to seek a non-pharmacologic alternative. This is especially important for the nearly 40% of AFib patients who cannot tolerate long-term blood thinners.

The acquisition of Laminar, Inc. will enhance Johnson & Johnson MedTech’s cardiac arrhythmia portfolio, which is led by Biosense Webster, Inc. – a global leader in the diagnosis and treatment of cardiac arrhythmias. Biosense Webster offers a range of tools and solutions that help electrophysiologists identify, treat, and deliver care to patients with various types of heart rhythm disorders.

As a result of the acquisition of Laminar, Inc., Johnson & Johnson will adjust its expected Adjusted EPS for fiscal year 2023. The asset acquisition will require an in-process research and development charge which will reduce operational and reported Adjusted EPS by approximately $0.17 from guidance previously issued.

The new expected operational and reported Adjusted EPS ranges for 2023 are now $9.85 to $9.91 and $9.90 to $9.96, respectively. Additionally, the asset acquisition is expected to have an approximate negative $0.15 EPS impact in fiscal year 2024.

Johnson & Johnson MedTech is committed to transforming the future of medical intervention and empowering everyone to live their best life possible. For more than a century, the company has driven breakthrough scientific innovation to address unmet needs and reimagine health.

“For the millions of people living with AFib, 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,” said Randy Lashinski, President & CEO, Laminar. “We are looking forward to advancing this vision as part of Johnson & Johnson MedTech.”

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