Michael Minogue, who is now Abiomed’s chairman, president, and CEO, will retire after the purchase closes. After helping with the transfer, he will hand over leadership of the independent business to Chief Commercial Officer Andrew Greenfield, who will manage J&J’s medtech division.
Johnson & Johnson intends to include Abiomed into its pantheon of medical technology firms and will pay $16.6 billion for the producer of lung support devices and minimally invasive cardiac pumps.
The flagship product of Abiomed is its Impella range of miniature, catheter-based heart pumps, which are made to be inserted into the patient’s heart through blood channels and assist in preserving local tissue. Once in position, the temporary devices function to help relieve pressure on a compromised heart muscle and give it time to heal by bypassing blood via the organ’s chambers. The gadgets can also be used in conjunction with therapies for severe cardiomyopathy, cardiogenic shock, and cardiac attacks.
The Breethe respiratory support device for patients with respiratory failure and preCARDIA’s vein-blocking balloon, designed to stop too much blood from rushing into the heart and overloading its contractions, were recently acquired by Abiomed as part of an effort to broaden its product line.