Abiomed

History

2023

Heart pump recall due to instruction errors

On August 17, 2023, the U.S. Food and Drug Administration (FDA) announced a new recall of heart pumps to Abiomed, part of Johnson & Johnson. Impella RP Flex with SmartAssist products fell under the program, the use of which can result in harm to the health of patients. Read more here

Heart pump recall due to marriage

On June 5, 2023, the U.S. Food and Drug Administration (FDA) announced the recall of heart pumps to Abiomed, part of Johnson & Johnson. The use of these devices creates significant risks to the health and life of patients. Read more here.

2022: Johnson & Johnson acquires Abiomed for $16.6 billion

On November 1, 2022, Johnson & Johnson announced the purchase of heart pump manufacturer Abiomed for $16.6 billion. Abiomed will operate as a separate business within the conglomerate's medical technology division. The deal is expected to close in the first quarter of 2023.

As stated in a joint press release of the companies, Johnson & Johnson (J&J) will pay $380 per share of Abiomed, which is 50.7% higher than quotations at the close of trading on Monday. Abiomed shareholders will also receive up to $35 per share if certain indicators are met.

Johnson & Johnson bought medical equipment maker Abiomed for $16.6 billion

J&J intends to spin off the consumer division into a separate company and is shifting its focus to manufacturing pharmaceuticals and medical devices.

{{quote 'Abiomed's skilled staff and strong relationships with clinicians, along with its innovative cardiovascular portfolio and robust portfolio, complement our MedTech portfolio, global presence and robust clinical experience. Together, we have an incredible opportunity to deliver vital innovation to more patients around the world! We are committed to investing in growth and look forward to welcoming a talented team and working together to develop our shared patient-centered thinking and culture of innovation, "said Ashley McEvoy, Executive Vice President and Chairman of MedTech International at Johnson & Johnson. }} Abiomed, which generated $1.03 billion in revenue in fiscal 2022, is developing medical technology to support circulation and oxygenation. Founded in 1981, the company has developed the world's smallest Impella heart pumps, which have been in use in the US since 2008.

Heart disease is one of the main causes of death in the United States, which accounts for almost 700 thousand deaths in the country, according to government data for 2020.^[1]

2021: Purchase of catheter manufacturer for the treatment of acute heart failure PreCardia

In early June 2021, artificial heart developer Abiomed bought PreCardia and its catheter system for the treatment of acute decompensated heart failure. The financial terms of the transaction were not disclosed. Read more here.

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