J&J boosts medtech biz with $13.1B Shockwave deal
05 Apr 2024
Acquisition
Johnson & Johnson will acquire all outstanding shares of cardiovascular medical device company Shockwave Medical, in a deal valued at approximately $13.1 billion.
California-based Shockwave provides innovative intravascular lithotripsy (IVL) technology for the treatment of calcified coronary artery disease (CAD) and peripheral artery disease (PAD). The tech is a minimally invasive, catheter-based treatment for calcified arterial lesions, which can reduce blood flow and lead to pain or heart attacks.
For J&J, the deal beefs up its medtech unit's position in cardiovascular intervention and speeds up its shift into higher-growth markets. The acquisition will expand J&J MedTech's cardiovascular portfolio into two growing segments of cardiovascular intervention — CAD and PAD.
The transaction follows J&J MedTech’s $16.6 billion acquisition of heart pump maker Abiomed in December 2022 and a $400 million buy of heart device maker Laminar in November 2023.
More recently, J&J inked a deal to acquire San Diego-based Ambrx Biopharma in a next-gen ADC deal valued at approximately $2 billion.
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