As the press release reads, this is a product used in China only and not in the US. The company will fall under the Ethicon division of J and J and produces a sealant used for adjunct hemostasis undergoing surgery, controls the bleeding when other methodologies are not sufficient.
Ethicon biosurgery brands already on the market in China include SURGICEL® and SURGIFLO®. J and J is not new to China as they have had other interests there for years and have a Chinese website. BD
Health care giant Johnson & Johnson (NYSE:JNJ) made its 1st acquisition in China this week, picking up Guangzhou Bioseal Biotech for an undisclosed amount.
J&J has been doing business in China for more than 25 years, including last year's launch of a medical device and diagnostics innovation center there.
"This transaction reinforces our commitment to China and delivering innovative medical device solutions to the Chinese market," J&J's Chinese medical president Xie Wen Jian said in prepared remarks. "We are very pleased to add the Bioseal brand to our growing portfolio of hemostasis products in China and we look forward to working with our new Bioseal colleagues to bring their innovative products to more physicians and patients."