Johnson & Johnson agrees to acquire remaining stake in Verb Surgical

Johnson & Johnson has agreed to acquire the remaining stake in California-based Verb Surgical Inc. in hopes of “shaping the next frontier of surgery,” the New Brunswick-based manufacturer said in a news release.

Following the successful strategic collaboration with Verily Life Sciences, an Alphabet company, Verb Surgical’s robotics and data science capabilities will join with Johnson & Johnson’s health care segment to advance the company’s mission to make medical interventions less invasive and more personalized, it said.

“We have reached this important milestone thanks to the progress the Verb Surgical team has made with their digital surgery platform and the strong collaboration with Verily, Ethicon and the clinicians around the world who shared their passion, deep insights and clinical expertise,” Ashley McEvoy, worldwide chairman, medical devices, Johnson & Johnson, said. “We are building a truly differentiated digital surgery ecosystem to change the standard of care for generations to come, and our collaboration with Verily has enabled us to advance our vision to help improve outcomes for patients around the world.”

“With Verb Surgical, we set out with an ambitious mission to successfully harmonize the talent and expertise of two pioneers to design a platform with the potential to transform surgery. This evolution in the collaboration recognizes the significant achievement toward that mission and I’m excited for the future of this technology in Johnson & Johnson’s hands,” Andrew Conrad, CEO of Verily, said.

The deal is expected to close in the first half of 2020.

“The ability to shape the future of medical interventions with the largest health care organization in the world is what inspired me when Johnson & Johnson acquired Auris Health, Inc.,” Dr. Fred Moll, chief development officer, Johnson & Johnson Medical Devices Companies, said. “With Verb Surgical’s talent and technology, we will strengthen our portfolio and our ability to deliver our digital ecosystem to make a clinical difference for patients.”

Financial terms will not be disclosed, Johnson & Johnson said.