J&J Sells Laminar Heart Device Assets It Bought for $400 Million Less Than Three Years Ago

What happened

Johnson & Johnson is selling key assets of Laminar, a developer of a left atrial appendage (LAA) closure device, less than three years after acquiring the company. According to MedTech Dive, which reported the sale on Sept. 16, the buyer is Jaguar LAA, a newly formed company created with investment firm Santé Ventures and members of Laminar’s management team.

Financial terms were not disclosed. J&J bought Laminar in November 2023 for $400 million.

Deal and device details

Laminar’s device is intended to close off the left atrial appendage, a small pouch in the heart where clots can form in people with atrial fibrillation, in order to reduce stroke risk. MedTech Dive reported the following history:

• November 2023: J&J acquired Laminar for $400 million.
• February 2024: J&J began an investigational device exemption study comparing the Laminar device with Boston Scientific’s Watchman and Abbott’s Amulet.
• Mid-2025: The pivotal study was suspended after concerns that the implant could unwrap after placement, causing clinically significant leaks.
• September 2026: J&J agreed to sell key assets to Jaguar LAA, which plans to continue developing the technology.

A J&J spokesperson said the sale “reflects our disciplined approach to portfolio management,” with resources focused where they can have the greatest impact. A Santé Ventures spokesperson did not respond to a question about whether a new clinical trial is planned, according to MedTech Dive.

Why it matters for the sector

Left atrial appendage closure has become one of the more competitive segments in cardiology devices, with Boston Scientific’s Watchman and Abbott’s Amulet established in the market. New entrants must show they can match or improve on those devices in head-to-head or non-inferiority trials, which are expensive and time-consuming. A safety setback during a pivotal trial can make continued investment hard to justify for a large company with other priorities.

The transaction also shows a common path for medtech assets that stumble inside large companies. Rather than shutting a program down, a parent can sell it to a new company formed by investors and former management who know the technology well. That allows development to continue with a smaller cost base, while the large company removes the program from its budget.

For J&J, the sale fits a broader reshaping of its medical technology portfolio. MedTech Dive noted that the company is concentrating on cardiovascular care and robotic surgery and plans to spin out its orthopedics business. Divesting a delayed LAA program, even within cardiovascular, suggests the company is prioritizing areas where it already has scale, such as electrophysiology and heart pumps.

The deal is also a reminder of how acquisition values can change. A $400 million purchase that resulted in an undisclosed sale less than three years later points to the risks of buying development-stage devices before pivotal data are available.

For venture investors such as Santé, buying a program with substantial prior investment and clinical experience can be less expensive than starting from scratch, though the technical issue that led to the trial suspension would need to be resolved before a new study could begin.

What to watch

• Whether Jaguar LAA discloses plans for design changes or a new clinical trial.
• The financing Jaguar LAA raises to fund continued development.
• Further portfolio pruning in J&J’s medtech business ahead of the orthopedics separation.
• Competitive developments in LAA closure from Boston Scientific, Abbott and other developers.

Sources: MedTech Dive

Understanding Left Atrial Appendage Closure

Atrial fibrillation is a common heart rhythm disorder in which the upper chambers of the heart beat irregularly. When that happens, blood can pool in the left atrial appendage, a small pouch attached to the left atrium. Clots that form there can travel to the brain and cause a stroke.

The standard way to reduce that risk is anticoagulant medication, often called blood thinners. Some patients, however, cannot take these drugs long term, for example because of bleeding risk. LAA closure devices offer an alternative: a catheter-delivered implant seals off the appendage so clots are less likely to form and escape.

What a device must achieve

• A complete seal. Gaps around the device, known as peri-device leaks, can leave room for clots to form.
• Secure placement. The implant must stay in position and keep its shape over time.
• Safe delivery. The procedure itself must have low complication rates.
• Healing. The heart’s tissue should grow over the device without forming new clots on its surface.

The concern that the Laminar implant could unwrap after placement goes to the heart of the first two requirements, which is why it led to the pause in the pivotal study.

How Device Trials Like This Are Designed

An investigational device exemption allows a device that is not yet approved to be used in a clinical study in the United States to collect safety and effectiveness data. For a new LAA device entering a market with established products, the pivotal trial typically compares it with those devices.

Many such trials use a non-inferiority design, which aims to show that the new device is not meaningfully worse than the comparator by a pre-specified margin. A newcomer can then compete on other features, such as ease of use or the medication regimen required after implantation. Trials of this kind usually follow patients for an extended period to capture stroke, bleeding and device-related events, which is part of why they are costly.

Questions Readers Ask

Why would former management buy back a program?

People who developed a technology often understand its potential and its problems best. A focused company can pursue a fix with a smaller budget than a large corporation would require.

Does a trial suspension end a device’s prospects?

Not necessarily. Design changes, additional testing and a new regulatory plan can sometimes address an issue, though they add time and cost.

Should patients with atrial fibrillation change their treatment based on news like this?

No. Decisions about stroke prevention depend on individual risk factors and should be made with a cardiologist or other physician.

What does a seller gain from an undisclosed-price divestiture?

Even when terms are small or undisclosed, selling a program stops ongoing development spending, may preserve some future economic interest and allows employees and know-how to stay with the technology. For investors, the decision mostly signals where the parent intends to concentrate its resources.