M&A Deal Summary

Johnson & Johnson Acquires Conor Medsystems

On November 16, 2006, Johnson & Johnson acquired medical products company Conor Medsystems from Easton Capital Investment Group for 1.4B USD

Acquisition Highlights
  • This is Johnson & Johnson’s 10th transaction in the Medical Products sector.
  • This is Johnson & Johnson’s 14th largest (disclosed) transaction.
  • This is Johnson & Johnson’s 15th transaction in the United States.
  • This is Johnson & Johnson’s 7th transaction in California.

M&A Deal Summary
Date 2006-11-16
Target Conor Medsystems
Sector Medical Products
Buyer(s) Johnson & Johnson
Sellers(s) Easton Capital Investment Group
Deal Type Add-on Acquisition
Deal Value 1.4B USD

Target

Conor Medsystems

Menlo Park, California, United States
Conor Medsystems, Inc.developed stents and other medical devices as platforms for controlled local and systemic delivery of a wide variety of therapeutic agents. The Company's initial focus was on drug-eluting stents for the treatment of restenosis and vascular disease.

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Buyer(S) 1

Buyer

Johnson & Johnson

New Brunswick, New Jersey, United States
Category Company
Founded 1886
Sector Consumer Products
Employees132,000
Revenue 85.2B USD (2023)
DESCRIPTION
Johnson & Johnson's corporate headquarters in New Brunswick, New Jersey.
Johnson & Johnson's corporate headquarters in New Brunswick, New Jersey.

Johnson & Johnson is a global healthcare conglomerate that operates across three primary sectors: Pharmaceuticals, Medical Devices, and Consumer Health. In Pharmaceuticals, it develops treatments for a variety of conditions, including immunology, oncology, and infectious diseases. The Medical Devices segment offers a range of equipment and devices for healthcare professionals, encompassing orthopedics, surgery, and cardiovascular care. Its Consumer Health division markets a wide array of products, spanning baby care, oral care, skin care, over-the-counter drugs, and women's health, with popular brands such as Band-Aid, Tylenol, and Neutrogena under its umbrella. Johnson & Johnson was formed in 1886 and is based in New Brunswick, New Jersey.

DEAL STATS #
Overall 17 of 45
Sector (Medical Products) 10 of 17
Type (Add-on Acquisition) 12 of 36
State (California) 7 of 16
Country (United States) 15 of 37
Year (2006) 3 of 3
Size (of disclosed) 14 of 29
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-06-26 Pfizer Consumer Healthcare

Berlin, Germany

Pfizer Consumer Healthcare GmbH global business of personal care and over-the-counter (OTC) products. A leading brands include LISTERINE oral care products and the NICORETTE line of smoking cessation treatments. Other widely recognized and trusted brands include LUBRIDERM, VISINE, NEOSPORIN, SUDAFED, ZANTAC and BENADRYL.

Buy $16.6B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-06-18 Amic AB

Uppsala, Sweden

Amic is a privately held Swedish developer of in vitro diagnostic (IVD) technologies for use in Point-of-Care (POC) and near-patient settings (outside the physical facilities of the clinical laboratory).

Buy -

Seller(S) 1

SELLER

Easton Capital Investment Group

New York, New York, United States

Investor Investor Investor Investor Investor

Category Venture Capital Firm
Founded 2000
PE ASSETS 200M USD
Size Small
Type Sector Focused
DESCRIPTION

Easton Capital Investment Group is a private investment firm that targets early-stage venture capital to later-stage growth capital investments. Easton will consider opportunities across a range of industries but generally invests in the healthcare industry, including biopharmaceuticals, drug delivery, medical devices, and healthcare services. Easton looks to commit $0.50 to $10 million per transaction. Easton Capital was formed in 2000 and is based in New York.

DEAL STATS #
Overall 7 of 20
Sector (Medical Products) 2 of 3
Type (Add-on Acquisition) 3 of 9
State (California) 3 of 6
Country (United States) 7 of 20
Year (2006) 3 of 3
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-04-01 Targacept

Winston-Salem, North Carolina, United States

Targacept is a R&D pharmaceutical company. Targacept is involved with the development and commercialization of drugs based on selective activation of a previously unexploited class of targets - neuronal nicotinic acetylcholine receptors (NNRs). These drugs offer a new way to treat various major CNS and gastrointestinal diseases and disorders including Alzheimer's Disease, depression and ulcerative colitis.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-01 Quasar

Albuquerque, New Mexico, United States

Quasar is an established leader in Ultrasonic Resonant Inspection, an emerging technology in the field of non-destructive inspection (NDI) using sophisticated pattern-recognition software to analyze ultrasonic resonance measurements on the item being inspected. Quasar was acquired by Illinois Tool Works in 2007, generating proceeds to Easton 2.4x its initial cost.

Sell -
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