Johnson & Johnson is acquiring the remaining stake in robotics and data science company Verb Surgical Inc., which the healthcare giant owns with Alphabet Inc. unit Verily Life Sciences LLC.
Verb Surgical is a 50-50 strategic collaboration with the life sciences arm of J&J's unit Ethicon Endo-Surgery Inc. and Verily, which was formed out of Google LLC, according to data from S&P Global Market Intelligence.
The privately held company is a digital surgery platform combining robotics, advanced visualization, advanced instrumentation and data analytics. The partnership was conceived in 2015 to develop a robotic surgery platform by 2020.
New Brunswick, N.J.-based J&J said Verb Surgical's expertise will help bolster its digital surgery portfolio. The transaction is expected to close in the first half of 2020, subject to antitrust clearance and customary closing conditions, J&J said in a Dec. 20 press release.
Financial terms of this transaction were not disclosed.