History
Abiomed was founded in Danvers, Massachusetts by David M. Lederman in 1981 as Applied Biomedical Corporation.[6] That year, the company commenced the development of an artificial heart.[7] Funded by federal research grants,[8] Lederman partnered with The Texas Heart Institute to develop the AbioCor, a grapefruit-sized electromagnetic device with an internal battery that completely replaces the heart without wires or tubes passing through the skin.[6] In July 2001, AbioCor became the first artificial heart successfully implanted in a patient, where it pumped more than 20 million times.[9] Fourteen of the AbioCor devices were implanted, during clinical trials from 2001 to 2004, with the longest-living recipient surviving 512 days.[6] The AbioCor won FDA approval in 2006 for patients who are near death and do not qualify for a heart transplant.[7]
In 2004, Michael R. Minogue became president and CEO of Abiomed.[10] In 2005, Abiomed purchased ventricular assist device company Impella CardioSystems AG of Aachen, Germany,[11] maker of the Impella heart pump, developed by Thorsten Siess,[12] who is now the chief technology officer at Abiomed.[13] After Abiomed acquired Impella the company's focus shifted from heart replacement to heart recovery.[14]
In July 2014, Abiomed acquired German heart pump maker ECP in a deal worth up to $30 million. The deal included a nearly $2.8 million buyout of AIS GmbH Aachen Innovative Solutions, which owns some of the patents licensed to ECP.[15]
In May 2018, Abiomed was added to the S&P 500 index.[16] During the S&P's rise from 2000 to 3000, Abiomed was the index's top performing stock.[17]
In 2018, Abiomed built a $17 million Innovation Center to facilitate research and product development at its headquarters in Danvers.[18] The 29,800-square-foot facility features laboratories for blood, optical, software, mechanical and electrical research, plus a production line.[19]
In 2019, Barron's ranked Abiomed the fourth best publicly listed company of the 2010s, with total return of 1,983%.[20] while Fortune ranked Abiomed 19th on the magazine's list of 100 fastest-growing companies.[21]
In April 2020, Abiomed acquired medical device company Breethe, a startup that spun out of the University Of Maryland.[22] The startup had developed a portable extracorporeal membrane oxygenation (ECMO) system that acts like an artificial lung, oxygenating and removing carbon dioxide from the blood of a patient in cardiogenic shock or respiratory failure.[23] The technology, now known as the Abiomed Breethe OXY-1 System, received FDA 510(k) clearance later that year.[24]
In June 2020, Abiomed appointed Charles A. Simonton, MD, as vice president and Chief Medical Officer.[25] Also in 2020, the FDA granted Emergency Use Authorization for the Impella heart pump to stabilize COVID-19 patients following the removal of pulmonary blood clots, as well as the use of the Impella in combination with the Breethe extracorporeal membrane oxygenation (ECMO) system, which pumps more oxygen into the bloodstream.[26]
In February and April 2021, Abiomed appointed neurosurgeon Myron Rolle and cardiologist Paula Johnson to the board of directors.[27] Drs. Rolle and Johnson serve on the Governance and Nominating Committee and Regulatory and Compliance Committee of the board.[28][29]
In June 2021, Abiomed acquired preCARDIA, a catheter developer whose system allows for a less-invasive option when treating acute decompensated heart failure (ADHF) patients.[30]
In November 2022, Abiomed announced that it would be acquired by Johnson & Johnson in a $16.6 billion deal.[31] The deal closed on December 22.[32] Following the acquisition, Abiomed continues to operate as a standalone business within Johnson & Johnson's MedTech segment.[2]
