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Johnson & Johnson (J&J) has announced its agreement to acquire Shockwave Medical for $12.5 billion, marking a significant expansion of its medical device portfolio focused on heart disease treatment.
The acquisition underscores J&J’s strategic commitment to advancing cardiac health solutions and follows previous investments in the cardiovascular sector.
The acquisition provides J&J with access to Shockwave Medical’s innovative device, which utilizes shockwaves to break down calcified plaque in heart vessels, a technique akin to treating kidney stones.
This transaction aligns with J&J’s broader strategy to strengthen its cardiac health business, following previous acquisitions such as Abiomed and Laminar.
J&J’s recent focus on building its cardiac health business reflects its proactive approach to addressing evolving healthcare needs.
By investing in technologies to treat heart conditions, J&J aims to enhance patient care and expand its presence in the cardiovascular market.
Shockwave Medical’s catheter-based treatment, known as intravascular lithotripsy (IVL), complements existing treatments for heart conditions involving calcium deposits.
The acquisition is anticipated to broaden J&J’s product offerings and strengthen its position in the cardiovascular space.
The deal values Shockwave Medical at an enterprise value of approximately $13.1 billion and is expected to close by mid-2024.
J&J plans to finance the acquisition through a combination of cash reserves and debt financing. The offer of $335 per share in cash represents a 17% premium to Shockwave’s closing price in late March.
J&J’s acquisition of Shockwave Medical aligns with its objective of pursuing value-enhancing transactions in the cardiovascular sector.
By strategically expanding its product portfolio, J&J aims to address emerging healthcare challenges and capitalize on growth opportunities in the cardiac health market.
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