1. Introductory Text

2. I. INTRODUCTION

   1. (1) On 15 March 2005, the Commission received a notification of...

      1. On 15 March 2005, the Commission received a notification of...

   2. A. The Parties

      1. (2) J & J is a company incorporated in the USA....

         1. J & J is a company incorporated in the USA....

      2. (3) Guidant is a company incorporated in the United States of...

         1. Guidant is a company incorporated in the United States of...

   3. B. The operation

      1. (4) The concentration is an acquisition of sole control by J & J...

         1. The concentration is an acquisition of sole control by J & J...

3. II. THE RELEVANT MARKETS

   1. (5) The market investigation confirmed that the areas mostly affected by...

      1. The market investigation confirmed that the areas mostly affected by...

   2. A. The relevant product markets

      1. 1. Interventional cardiology devices

         1. (6) Interventional cardiology devices are designed to treat, through minimally invasive...

            1. Interventional cardiology devices are designed to treat, through minimally invasive...

         2. (7) Bare metal stents (BMS) and drug eluting stents (DES) are...

            1. Bare metal stents (BMS) and drug eluting stents (DES) are...

         3. (8) Concerning the accessories coronary guiding catheters, coronary steerable guidewires, coronary...

            1. Concerning the accessories coronary guiding catheters, coronary steerable guidewires, coronary...

      2. 2. Endovascular devices

         1. (9) Endovascular devices are used for the minimally invasive treatment of...

            1. Endovascular devices are used for the minimally invasive treatment of...

         2. (10) Similar to interventional cardiology stents, endovascular stents are small expandable...

            1. Similar to interventional cardiology stents, endovascular stents are small expandable...

         3. (11) The parties submitted, and the Commission’s market inquiry confirmed, that...

            1. The parties submitted, and the Commission’s market inquiry confirmed, that...

         4. (12) As far as the accessories are concerned, endovascular guiding catheters,...

            1. As far as the accessories are concerned, endovascular guiding catheters,...

      3. 3. Cardiac surgery devices

         1. (13) Coronary artery bypass graft surgery (CABG) is used to treat...

            1. Coronary artery bypass graft surgery (CABG) is used to treat...

         2. (14) The following markets are affected in the cardiac surgery area:...

            1. The following markets are affected in the cardiac surgery area:...

   3. B. The relevant geographic markets

      1. (15) The market investigation confirmed that relevant geographic markets are all...

         1. The market investigation confirmed that relevant geographic markets are all...

4. III. COMPETITIVE ASSESSMENT

   1. A. Interventional cardiology

      1. (16) Interventional cardiology is a relatively recent, innovation driven business which...

         1. Interventional cardiology is a relatively recent, innovation driven business which...

      2. (17) In the area of interventional cardiology there are two leagues...

         1. In the area of interventional cardiology there are two leagues...

      3. 1. Drug-eluting stents

         1. (18) In the market for DES, the concentration would result in...

            1. In the market for DES, the concentration would result in...

         2. (19) Despite the fact that there is an indication that Guidant...

            1. Despite the fact that there is an indication that Guidant...

         3. (20) The Commission, therefore, concluded that the notified concentration does not...

            1. The Commission, therefore, concluded that the notified concentration does not...

      4. 2. Steerable guidewires

         1. (21) In the interventional cardiology market for steerable guidewires virtually all...

            1. In the interventional cardiology market for steerable guidewires virtually all...

      5. 3. Conclusion

         1. (22) The Commission, therefore, concluded that the notified concentration raises serious...

            1. The Commission, therefore, concluded that the notified concentration raises serious...

   2. B. Endovascular devices

      1. (23) Both J & J and Guidant are leading suppliers in...

         1. Both J & J and Guidant are leading suppliers in...

      2. (24) In the endovascular market for balloon expandable stents, at EEA...

         1. In the endovascular market for balloon expandable stents, at EEA...

      3. (25) When looking at the relevant geographic markets, i.e. each Member...

         1. When looking at the relevant geographic markets, i.e. each Member...

      4. (26) Having regard to the fact that the merger combines the...

         1. Having regard to the fact that the merger combines the...

      5. (27) In the endovascular market for Carotid stents in the EEA,...

         1. In the endovascular market for Carotid stents in the EEA,...

      6. (28) There are three main players in the carotid stent market:...

         1. There are three main players in the carotid stent market:...

      7. (29) In the above national markets, given the degree of concentration,...

         1. In the above national markets, given the degree of concentration,...

      8. (30) In the endovascular devices market for non-carotid stents, the Member...

         1. In the endovascular devices market for non-carotid stents, the Member...

      9. (31) With regard to non-carotid SX stents in the above national...

         1. With regard to non-carotid SX stents in the above national...

      10. (32) The Commission, therefore, concluded that the notified concentration raises serious...

          1. The Commission, therefore, concluded that the notified concentration raises serious...

   3. C. Cardiac surgery: endoscopic vessel harvesting systems

      1. (33) The EEA sales of EVH systems are significantly lower than...

         1. The EEA sales of EVH systems are significantly lower than...

      2. (34) The Commission, therefore, concluded that the notified concentration raises serious...

         1. The Commission, therefore, concluded that the notified concentration raises serious...

5. IV. COMMITMENTS OFFERED BY THE PARTIES

   1. (35) In order to address the aforementioned competition concerns in the...

      1. in the steerable guidewires business, the parties propose to divest...

6. V. ASSESSMENT OF THE COMMITMENTS SUBMITTED

   1. (36) As confirmed by the results of the market test conducted...

      1. As confirmed by the results of the market test conducted...

   2. (37) The Commission, therefore, reached the conclusion that, on the basis...

      1. The Commission, therefore, reached the conclusion that, on the basis...

7. VI. CONCLUSION

   1. (38) For the reasons set out above, the Commission concluded that...

      1. For the reasons set out above, the Commission concluded that...