On February 17, 2017 Ethicon, Inc. reported a definitive agreement to acquire Torax Medical, Inc., a privately held medical device company that manufactures and markets the LINX Reflux Management System, a novel minimally invasive device for the surgical treatment of GERD (Press release, Johnson & Johnson, FEB 17, 2017, View Source [SID1234517770]). The acquisition of Torax Medical will enable Ethicon to offer patients a safe and effective alternative to the anatomy-altering laparoscopic Nissen fundoplication surgical procedure.1

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This LINX Reflux Management System, a small implant comprised of interlinked titanium beads with magnetic cores which augment the body’s natural barrier function to prevent reflux. LINX is currently used by physicians in over 300 hospitals in the United States and Europe. This acquisition is consistent with Ethicon’s strategy of advancing innovation and investing in areas of unmet medical needs such as esophageal health.

Financial terms of the transaction have not been disclosed. The closing of the transaction is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions. The transaction is expected to close during the first quarter of 2017.