Auris Health acquired by Johnson & Johnson for $5.75 billion
FEBRUARY 21, 2019
Johnson & Johnson has announced the acquisition of Auris Health for up to $5.75 billion consisting of approximately $3.4 billion in cash plus additional contingent payments of up to $2.35 billion upon reaching certain predetermined milestones.
Highland Capital Partners congratulates Dr. Fred Moll on founding and building another spectacular company during his extraordinary career as a technology entrepreneur.
We first met Fred in 1989 when we invested in his first big success early in our firm’s history. When Fred started working on his new robotics venture in 2009 at our Sand Hill Road offices, we were enthusiastic to have Highland VII invest the initial capital alongside him. Our investment thesis was simple, invest in Dr. Moll as he transforms modern surgery. Fred had already founded five successful companies over the prior 20 years. His latest mission was his most ambitious, to revolutionize how general surgery is performed and open up a world of procedures not currently possible.
We were proud to have Highland investor Dr. Bijan Salehizadeh and our Partner Corey Mulloy work closely with Fred in those early days and throughout the company’s development. “It’s gratifying to see a company we seeded in our office grow into such a powerhouse with a lasting impact on human health. Backing brilliant minds like Fred Moll is truly a privilege,” said Corey Mulloy.
With today’s announcement of Johnson & Johnson acquiring Auris, Fred has delivered his 6th win, solidifying him as one of the giants in medical device history. This is the 18th company in the Highland portfolio to attain greater than $1 billion in value, and our 8th California company to do so.
Dr. Moll, from all the Partners at Highland, thank you for your enormous contribution to medicine, for all the lives your technology has saved, and for this exceptional outcome!