Johnson & Johnson MedTech Completes Laminar Acquisition, Sees $0.15/share Negative Impact In FY24

(RTTNews) - Healthcare major Johnson & Johnson (JNJ) announced on Thursday that its unit Johnson & Johnson MedTech has completed the acquisition of Laminar, Inc., a privately held medical devices company.

The asset acquisition is expected to have an approximate negative $0.15 earnings per share impact in the fiscal year 2024.

Johnson & Johnson MedTech paid $400 million upfront with additional potential clinical and regulatory milestone payments to be made in 2024 and beyond.

Laminar focuses on eliminating the left atrial appendage or LAA, a small pouch in the left atrium, in patients with non-valvular atrial fibrillation or AFib.

As per the company, 38 million patients around the world are living with AFib, which causes them to be more than five times as likely to have a stroke.

As a result of this acquisition, the drug major will reduce operational and reported Adjusted earnings per share by around $0.17 from the previously issued guidance. The new operational and reported adjusted earnings per share guidance is in a range of $9.85 to $9.91 and $9.90 to $9.96 respectively.

Currently, JNJ shares are trading at $152.75, down 0.42% on the New York Stock Exchange.