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.
Related articles
Supreme Court declines to hear challenge to Maryland ban on rifles known as assault weapons
WASHINGTON (AP) — The Supreme Court on Monday declined, for now, to hear a challenge to a Maryland l2024-05-21Dua Lipa, Harry Styles and Ed Sheeran are named among Britain's richest under 40s
Harry Styles and Dua Lipa are among a number of celebrities who feature in the first edition of The2024-05-21American coastal town torn apart as emotions overflow in 400
Residents in the coastal Massachusetts town of Ipswich are at war over plans to tear down a historic2024-05-21- TAIPEI, Taiwan (AP) — In a campaign ad for Taiwan’s President-elect Lai Ching-te, incumbent Presiden2024-05-21
Dodgers acquire pitcher Yohan Ramírez from Mets for cash
LOS ANGELES (AP) — The Los Angeles Dodgers acquired pitcher Yohan Ramírez from the New York Mets for2024-05-21Nepal's prime minister wins confidence vote in parliament, his fourth since taking office
KATHMANDU, Nepal (AP) — Nepal’s prime minister will continue leading his shaky governing coalition a2024-05-21
atest comment