Johnson & Johnson eye the surgical robotics market

Johnson & Johnson (J&J) is pursuing the acquisition of Auris Health Inc., a robot medical health company founded in 2007, as it attempts to integrate surgical robotics technology into the services it provides, according to a report by Bloomberg. "J&J is seeking to purchase Auris at a premium to the valuation from its latest funding round, according to the people, who asked not to be identified because the information is private," reported Bloomberg. "That financing valued the Redwood City, California-based company at about $2bn." Led by industry veteran Fred Moll, Auris has developed robotic surgical scopes which are operated with a handheld device to navigate a patient's lungs and identify cancerous tumors. The firm has so far raised $700m from investors, including $220m in equity financing in its last round. A final agreement has yet to be reached and representatives from both companies have declined to comment on the acquisition.