For decades, Johnson & Johnson (J&J) has been a household staple, with products ranging from band-aids to moisturizers. Apart from just household goods, however, the company has also invested significantly in other product areas over the last few years, including medical devices, pharmaceutical products, and even healthcare data solutions.
Perhaps what the company most recently became famous for was the timely development of a vaccine against Covid-19, which the company released in February of 2021. This was celebrated as a revolutionary solution to the deadly coronavirus pandemic, which was claiming thousands of lives daily.
Indeed, J&J has transitioned far beyond just household staples, and is now heavily invovled in enabling complex clinical care delivery solutions. Some of the world’s most frequently used medical devices have been developed by J&J, spanning across multiple specialty domains ranging from orthopedics and ophthalmology to cardiology and sports medicine. The company has also made incredible strides in empowering complex clinical interventions, procedures which otherwise would not be possible without J&J devices. Take for example Cerenovus, which is J&J’s arm for stroke care solutions. The division has created ground-breaking products such as large bore catheters, revascularization devices, and embolic systems, all of which have delivered very real impact in the lives of millions of people. Similarly, Biosense Webster, which is also a part of the J&J family, has innovated catheters, generators, and sensor systems that are used to resolve various complex cardiac pathologies.
In a similarly related stride, it was announced late last week that J&J has completed its acquisition of Abiomed, a leading biomedical devices company that primarily focuses on cardiac support devices. Ashley McEvoy, Executive Vice President and Worldwide Chairman of MedTech at Johnson & Johnson, explained the vision behind the acquisition: “The completion of this acquisition allows Johnson & Johnson MedTech to expand our portfolio in the high growth cardiovascular markets, adding solutions for heart recovery to our global market leading Biosense Webster electrophysiology business. Fueled by Johnson & Johnson’s global scale and commercial and clinical strength, we are excited to explore the opportunities and possibilities ahead to reach even more patients with critical unmet need.” The deal was completed with J&J purchasing shares of Abiomed for $380.00 per share in cash, valuating the deal at nearly $16.6 billion.
This kind of investment signifies how serious J&J is in expanding its care delivery business, especially with a commitment to cutting-edge technology. J&J’s financials reflect not only its growth, but also the continued confidence that investors and consumers have in the company. Over the last 5 years alone, the stock price has climbed in value nearly 30%, paying homage to the company’s significant potential and reach.
Undoubtedly, J&J is just getting started. With an inspired leadership team as well as seasoned executives that lead its innovation and product portfolios, the company will continue to stand as a pillar in the healthcare industry, embodying its original values: robust innovation, a deep sense of purpose, and unparalleled patient care.