J&J handed Laminar’s stalled device to a venture-backed startup, removing a large-cap challenger to Boston Scientific and Abbott in catheter-based LAA closure.
Abbott CEO Robert Ford said on the company’s second-quarter 2026 earnings call that LAA closure is a roughly $2 billion market and that its competitor holds about 90% share.
Johnson & Johnson spent nearly three years trying to build a third option. It has now sold key assets of its Laminar program to Jaguar LAA, a newly formed private company, Santé Ventures announced on September 11, 2026. Financial terms were not disclosed. J&J paid $400 million upfront for Laminar in November 2023, plus potential clinical and regulatory milestone payments, the company said at the time.
The exit leaves Watchman and Abbott’s Amulet with one fewer well-funded rival, weeks before Boston Scientific resets its 2026 outlook on October 28.
J&J hands the Laminar program to a Santé-backed startup
Jaguar LAA was formed by Santé Ventures and members of the Laminar management team, and it is headquartered in Santa Rosa, California, Santé Ventures’ September 11 announcement said. Santé, which manages more than $1 billion in capital, led the company’s formation and financing alongside management and other investors, Santé Ventures said in the announcement.
Jaguar plans to build on completed clinical and development work and move the device through its next stages of development and regulatory review, the company said.
“We believe the Laminar technology offers a differentiated approach to LAA closure, particularly through its ability to leave minimal device exposure within the left atrium.” — Jason Rogers, chief medical officer, Jaguar LAA, in a statement distributed via PR Newswire
Rogers identified minimal device exposure within the left atrium as a key differentiating feature of the Laminar technology. The sale reflects a disciplined approach that puts resources where J&J can have the greatest impact, a company spokesperson told MedTech Dive. Santé did not answer whether a new clinical trial is planned, the outlet reported.
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Laminar’s rotating implant stalled on leaks in its pivotal trial
Commercial catheter devices plug the appendage, while Laminar uses rotational motion to eliminate it, J&J explained in its 2023 acquisition release. J&J began enrolling a 1,500-patient pivotal trial at up to 100 US sites in February 2024 to test Laminar against approved devices, Biosense Webster said.
That study was suspended in mid-2025 over potential unwrapping of the appendage after implant, with clinically significant leaks, ClinicalTrials.gov records show. An in-process research charge from the deal cut J&J’s 2023 adjusted EPS by about $0.17, with a further $0.15 hit expected in 2024, the acquisition release indicated.
Key numbers behind J&J’s Laminar exit
- Upfront price: $400 million, paid November 2023 (J&J)
- 2023 adjusted EPS impact: about $0.17 reduction from an in-process R&D charge (J&J)
- Expected 2024 EPS impact: about $0.15 reduction (J&J)
- Planned pivotal enrollment: 1,500 patients at up to 100 US sites, starting February 2024 (Biosense Webster)
- Pivotal trial status: suspended mid-2025 (ClinicalTrials.gov)
- Sale price to Jaguar LAA: undisclosed, announced September 11, 2026 (Santé Ventures)
Watchman growth slowed to 4.3% in the second quarter
Watchman sales rose nearly 30% in 2025 to $1.96 billion, but second-quarter 2026 revenue grew just 4.3% to $507 million, MedTech Dive reported. Boston Scientific expects flat to low-single-digit Watchman growth for 2026, with second-half sales declining at a mid- to high-single-digit rate, the outlet noted.
CEO Mike Mahoney tied the slowdown to falling standalone Watchman procedures, even as procedures performed alongside other heart treatments kept growing, the report showed.
“We expect that the actions we are taking today will support the [left atrial appendage closure] market over time. However, we are not assuming Watchman growth in 2027 until we see the dynamics actually change.” — Mike Mahoney, chairman and CEO, Boston Scientific, on the company’s second-quarter 2026 earnings call, via MedTech Dive
Boston Scientific’s own forecast, in other words, assumes no Watchman rebound next year.
On July 29, the company cut its 2026 reported sales growth forecast to 5.5% to 6.5% and its adjusted EPS range to $3.28 to $3.32, its second-quarter release showed. Those ranges stood at 7% to 8.5% and $3.34 to $3.41 in April, MedTech Dive added.
Abbott is pushing Amulet 360 into a thinner field
Abbott won Europe’s CE mark for its next-generation Amulet 360 on August 27, 2026, and plans to expand its use across Europe in the coming weeks, MedTech Dive reported.
The company also completed a US Food and Drug Administration submission for Amulet 360 in May, the trade outlet indicated.
“My focus, and the team’s focus here, is on market share capture. I think this represents a big opportunity for us.” — Robert Ford, CEO, Abbott, on the company’s second-quarter 2026 earnings call, via MedTech Dive
Ford expects Amulet 360 to drive growth from 2027 onward, and J&J’s exit leaves him one fewer large rival to compete with for that share. Private Conformal Medical faces its own delay, with enrollment in its CONFORM pivotal trial temporarily suspended after a serious adverse event, the trial registry shows.
Boston Scientific’s October 28 update is the next test
Boston Scientific said on September 8 that it is unlikely to meet third-quarter and full-year guidance after an August 25 cyberattack disrupted manufacturing and shipping, Quartz reported.
The company will issue a revised outlook with its third-quarter results on October 28, the outlet added. Its shares fell more than 4% to $45.73 on the day of the warning, Quartz noted. Manufacturing, order fulfillment and shipping were fully restored by September 9, Boston Scientific confirmed.
With Laminar sidelined, Abbott’s Amulet 360 will continue competing primarily with Watchman for share in the catheter-based LAA closure market. That makes Amulet 360’s U.S. approval timing one of the key competitive developments to watch.
What J&J’s Laminar exit means for Boston Scientific and Abbott shareholders
J&J’s $400 million attempt at a third LAA closure design now sits with a startup that has not said how it will restart a suspended pivotal trial. Watchman and Amulet remain the principal competing catheter-based LAA closure devices while Jaguar rebuilds the Laminar program.
Two items matter next. Boston Scientific reports third-quarter results and a revised 2026 outlook on October 28, and the FDA’s decision on Amulet 360 will show how quickly share can move within the catheter-based LAA closure market.
