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Johnson & Johnson to buy private robotics firm Auris for $3.4 billion
(Reuters) - Johnson & Johnson is buying privately held surgical robotics company Auris Health Inc for about $3.4 billion in cash, the healthcare conglomerate said on Wednesday, as it continues its push into robotics.
The agreement includes additional payments by J&J of $2.35 billion, contingent upon Auris reaching certain milestones, J&J said, without elaborating.
Auris Health is a developer of robotic technologies focused on lung cancer. The deal follows J&J’s acquisition last year of Orthotaxy, a privately held developer of software-enabled surgery technologies.
“This acquisition will accelerate Johnson & Johnson’s entry into robotics with potential for growth and expansion into other interventional applications,” J&J said in a statement.
The acquisition is expected to close by the end of the second quarter of 2019.
Reporting by Manas Mishra in Bengaluru; Editing by Sai Sachin Ravikumar
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