Johnson & Johnson to acquire Shockwave Medical

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Johnson & Johnson will acquire Shockwave Medical, expanding Johnson & Johnson MedTech's position in the growing medtech market for cardiovascular intervention.

According to a statement released by the firms, Johnson & Johnson will acquire all outstanding shares of Shockwave for $335 per share in cash, for a value of approximately $13.1 billion, including cash acquired. Johnson & Johnson intends to fund the acquisition with cash on hand and debt.

The transaction was approved by both companies' boards of directors.

Shockwave is a provider of intravascular lithotripsy technology, a catheter-based treatment used to treat two common heart conditions, coronary artery disease and peripheral artery disease.

Johnson & Johnson said the transaction is expected to be completed by midyear 2024 subject to Shockwave shareholder approval, as well as applicable regulatory approvals and other customary closing conditions.

Shockwave will operate as a business unit within Johnson & Johnson MedTech following completion of the transaction.

Johnson & Johnson MedTech also acquired heart pump manufacturer Abiomed in late 2022 for approximately $16.6 billion and Laminar, a medical device manufacturer focused on left atrial appendage elimination for patients with nonvalvular atrial fibrillation in late 2023 for $400 million.        

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