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Johnson & Johnson MedTech has strengthened its cardiac treatment offerings with the $400 million acquisition of Laminar Inc., a private medical device company headquartered in Santa Rosa, Calif. 

The New Brunswick-based buyer announced the deal Nov. 30, describing its target as “focused on eliminating the left atrial appendage (LAA) in patients with non-valvular atrial fibrillation (AFib).” 

According to J&J MedTech, AFib affects about 38 million people globally and makes patients five times as likely to have a stroke. The LAA is a small pouch in the left atrium of the heart and can cause clots that can enter the blood stream, potentially causing a stroke. J&J MedTech added that the LAA is a major contributor to thromboembolic stroke in patients with non-valvular atrial fibrillation. 

Unlike current catheter-based devices on the market, the Laminar Left Atrial Appendage Closure System uses a rotational motion to eliminate the LAA, J&J MedTech explained. This type of procedure also is vital for patients who cannot tolerate long-term blood thinners. 

“For the millions of people living with AFib, stroke risk is a major concern. The team at Laminar is driven by our vision to develop and deliver an innovative solution to help patients live without the fear of stroke, or the need for long-term use of blood thinners,” Lamar President and CEO Randy Lashinski said in a statement. “We are looking forward to advancing this vision as part of Johnson & Johnson MedTech.” 

Laminar joins J&J MedTech as part of its Irvine, Calif.-based medical technology company, Biosense Webster Inc., which specializes in cardiac arrhythmia treatment. 

Biosense Webster President Jasmina Brooks said Laminar’s innovation will allow the company “to expand our portfolio in this high growth market, complement our electrophysiology and Intracardiac Echo strengths, and deepen our presence with interventional cardiologists and electrophysiologists.” 

Following the acquisition, Johnson & Johnson will adjust its expected adjusted earnings per share for fiscal year 2023, reducing operational and reported adjusted EPS ranges by approximately $0.17 from guidance previously issued to $9.85 to $9.91 and $9.90 to $9.96, respectively. Additionally, the acquisition is expected to have an approximate negative $0.15 EPS impact in fiscal year 2024. 

In September, Johnson & Johnson provided an update on its divisions after spinning off its consumer health arm, Kenvue, as part of a years-long planned company split. The company, which also unveiled a new look, said it’s uniting J&J MedTech and its pharmaceutical segment, currently called Janssen, under the Johnson & Johnson brand name. Janssen will eventually be named Johnson & Johnson Innovative Medicine, while Johnson & Johnson MedTech will keep its moniker, which it took on in early 2022.