J&J Takes Full Ownership Of Verb Surgical, Verily Breaks Off Robotics Partnership
Johnson & Johnson is acquiring the remaining stake in Verb Surgical from Verily following a four-year partnership. The transaction is expected to close in the first half of 2020.
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J&J said its Ottava robotic platform has six robotic arms, “zero footprint,” and can be used for various procedures.
The global market for robotic surgery systems is expected to reach $9.7bn by 2023. With medtech giants Medtronic, Johnson & Johnson and Zimmer Biomet launching robotic platforms in 2020, this market is set for a major shakeup.
Device financing during 2019’s final quarter totaled $1.6bn, a substantial decrease from Q3’s $4.05bn. Merger and acquisition activity, almost doubled from the previous quarter reaching $6.1bn; Stryker’s 4.7bn takeover of Wright Medical was the only billion-dollar transaction. Financings by diagnostics/research players totaled $1.3bn (the lowest quarter of the year) and eight companies were acquired, five of which together were valued at $981m.