Cincinnati, OH (November 4, 2011) – Ethicon Endo-Surgery, Inc. (EES), a global leader in the development of innovative medical devices for minimally invasive and open surgical procedures, today announced the closing of the transaction to acquire SterilMed, Inc. (SterilMed), a leader in the reprocessing and remanufacturing of single-use medical devices in the United States.
“Today we take another step forward in our strategy to provide hospitals and clinicians with a full portfolio of solutions that address pressing healthcare needs,” said Karen Licitra, Company Group Chairman and Worldwide Franchise Chairman for Ethicon Endo-Surgery. “Reprocessing has gained widespread acceptance and we will work to support SterilMed in meeting growing demand from customers. Together we will be able to continue meeting clinicians’ needs for high-performance medical devices, while also offering quality, cost-effective alternatives for hospitals to consider in order to help save money and reduce waste. This aligns strongly with our healthcare system’s goals for transforming patient care and increasing affordability and access in the U.S.”
SterilMed will continue to operate as a standalone company, focused on growing the market for single-use medical device reprocessing. SterilMed and EES will work together over the coming months to identify opportunities for growing the market to serve as many customers as possible.
In a separate press release, SterilMed announced the appointment of Mike Gustafson as Company President to succeed Brian Sullivan, who intends to retire from the company following a transition period. Gustafson will lead SterilMed’s operating management team in working to sustain the company’s growth trajectory and leverage its already successful business model.
About Ethicon Endo-Surgery
Ethicon Endo-Surgery, Inc., a Johnson & Johnson company, develops and markets advanced innovative medical devices for minimally invasive and open surgical procedures, focusing on procedure-enabling devices for the interventional diagnosis and treatment of conditions in general and bariatric surgery, as well as gastrointestinal health, gynecology and surgical oncology. More information can be found at www.ethiconendosurgery.com.
Johnson & Johnson Investor Relations
(This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Ethicon Endo-Surgery, Inc. and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to, general industry conditions and competition; economic factors, such as interest rate and currency exchange rate fluctuations; technological advances and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approvals; domestic and foreign health care reforms and governmental laws and regulations; trends toward health care cost containment; and increased scrutiny of the healthcare industry by government agencies. In addition, there are risks and uncertainties related to the ability of Ethicon Endo-Surgery, Inc. and Johnson & Johnson to successfully integrate the business, products and employees of SterilMed Inc., as well as the ability to ensure continued performance or market growth of SterilMed, Inc.’s business and products. A further list and description of these risks, uncertainties and other factors can be found in Exhibit 99 of Johnson & Johnson’s Annual Report on Form 10-K for the fiscal year ended January 2, 2011. Copies of this Form 10-K, as well as subsequent filings, are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Neither Ethicon Endo-Surgery, Inc. nor Johnson & Johnson undertakes to update any forward-looking statements as a result of new information or future events or developments.)