J&J Unveils New Branding for Medical Device Units

Johnson & Johnson is consolidating all its medical device businesses under one brand.

The New Brunswick, NJ-based company’s Ethicon, DePuy Synthes, Biosense Webster, Abiomed, and Cerenovous will now go by the name of Johnson & Johnson MedTech.

The company noted that the change won’t have an impact on the medical technology products and solutions currently offered to customers.

“At Johnson & Johnson, we are addressing some of the largest unmet needs in healthcare through innovative medicine and medical technology,” Tim Schmid, executive vice president, worldwide chairman of medtech. “By bringing our medtech businesses together under the Johnson & Johnson name, the scale of our impact in healthcare will be even more apparent, unlocking new opportunities for us to strengthen our competitiveness.”

Deals Build Out J&J’s Medtech Portfolio

Johnson & Johnson has been growing its medtech segment throughout the past few years with a series of acquisitions. Earlier this year, Johnson & Johnson said it would acquire Shockwave Medical, a company that has developed an intravascular lithotripsy (IVL) technology that uses shockwaves to crack calcium within the vessel wall. The acquisition was valued at $13.1 billion.

The deal followed closely behind Johnson & Johnson’s planned acquisition of Abiomed for $16.6 billion. Abiomed is the developer of the Impella heart pump.

During the Johnson & Johnson Wells Fargo 2024 Health Conference, Schmid spoke about the deal flow continuing in medtech and commented about the size of the transactions.

“Now we have made some big acquisitions, most notably in Abiomed and Shockwave,” Schmid, said according to a Seeking Alpha transcript of the conference call. “But we've also made some nice tuck-ins in both Laminar, which gets us into left atrial appendage, and then more recently, V-Wave. When you look back over the last 20 years, not just for our MedTech business but also for our Innovative Medicine businesses, over 90% of our deals tend to be south of a billion dollars. And so, we like those. But as you've seen, we're certainly willing to make bigger bets. And I think this is where the strength of our balance sheet at Johnson & Johnson is very beneficial to all of our businesses. And for the right reasons, we'll continue to make big bets.”