J&J to pump another $13B into its MedTech business with Shockwave deal
Johnson & Johnson is pumping more money into heart care with a roughly $13 billion deal for Shockwave Medical, which specializes in technology that helps open clogged arteries.
The health care giant said Friday that it will spend $335 in cash for each share of Shockwave. The total deal value includes cash acquired.
The deal has already been approved by the boards of directors from both companies.
Founded in 2009, Shockwave focuses on intravascular lithotripsy technology that uses sonic pressure waves to crack calcium lesions in arteries and restore blood flow. It’s similar to a technique used to break up kidney stones. The soundwave emitters are placed inside angioplasty catheters to reach the calcified areas of the artery.
Shockwave’s technology is used to treat coronary artery and peripheral artery disease.
The company’s revenue jumped 49% last year to $730 million.