J&J buys another medtech company in $13.1B Shockwave deal
05 Apr 2024
Acquisition
Johnson & Johnson’s acquisition strategy has largely focused on medical technology companies in the past few years, as the healthcare giant splashes another $13.1 billion in cash to buy Shockwave Medical.
The Friday morning deal adds to the New Jersey-based conglomerate’s cardiovascular interventions following a $400 million buyout of Laminar last November and $16.6 billion takeover of Abiomed in November 2022. On the pharmaceuticals front, J&J has inked multiple R&D and licensing pacts but fewer acquisitions, with January’s $2 billion move for ADC drugmaker Ambrx Biopharma as one of its only such deals in recent years.
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Source: EndPoints
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