Ethicon to Acquire Magnet GERD Device Company Torax Medical February 24, 2017
Johnson & Johnson’s Ethicon, Inc. has entered into a definitive agreement to acquire Torax Medical, Inc., developer of the LINX® Reflux Management System.
Featured frequently on our pages, Torax Medical’s Linx is a novel minimally invasive device for the surgical treatment of GERD. It is a small implant comprised of interlinked titanium beads with magnetic cores which augment the body’s natural barrier function to prevent reflux. The magnetic attraction between the beads augments the existing esophageal sphincter’s barrier function to prevent reflux. The device is implanted using a standard minimally invasive laparoscopic procedure and is an alternative to the more anatomically disruptive fundoplication, commonly used in surgical anti-reflux procedures. The LINX Reflux Management System is indicated for those patients diagnosed with GERD as defined by abnormal pH testing, and who continue to have chronic GERD symptoms despite maximum medical therapy for the treatment of reflux. LINX is currently used by physicians in over 300 hospitals in the United States and Europe, having gained FDA clearance back in 2012 as we reported here.
This acquisition is consistent with Ethicon’s strategy of advancing innovation and investing in areas of unmet medical needs such as esophageal health. It will enable Ethicon to offer patients a safe and effective alternative to laparoscopic Nissen fundoplication.
Financial terms of the transaction have not been disclosed. The closing of the transaction is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions. The transaction is expected to close during the first quarter of 2017.
Source: PR Newswire