Johnson & Johnson to acquire Shockwave Medical
Betsy Goodfellow | April 8, 2024 | News story | Business Services | Cardiology, Johnson & Johnson, Shockwave Medical, acquisition
Johnson & Johnson (J&J) and Shockwave Medical have announced that they have entered into a definitive agreement under which J&J will acquire all outstanding shares of Shockwave Medical for $335 per share, or a total value of $13.1bn.
Both companies’ boards of directors have approved the transaction.
This acquisition is intended to extend J&J MedTech’s ‘position in cardiovascular intervention and accelerate its shift into higher-growing markets’, according to the press release. The acquisition expands J&J’s cardiovascular portfolio into coronary artery disease (CAD) and peripheral artery disease (PAD).
Joaquin Duato, chairman and chief executive officer of J&J, commented: “With our focus on Innovative Medicine and MedTech, J&J has a long history of tackling cardiovascular disease – the leading cause of death globally. The acquisition of Shockwave and its leading IVL technology provides a unique opportunity to accelerate our impact in cardiovascular intervention and drive greater value for patients, shareholders and health systems.”
Doug Godshall, president and chief executive officer of Shockwave, added: “Shockwave has transformed the treatment of complex calcified arterial disease through the pioneering development of intravascular lithotripsy, and it is our mission to make this remarkable technology available to patients worldwide. As part of a larger, more diverse organisation, with broad expertise and a core focus on improving patient outcomes, we are confident we will be able to further solidify IVL as the global standard of care for patients. I am deeply grateful to our team members and colleagues whose efforts have made today’s milestone possible; their accomplishments and passion have been extraordinary. I could not think of a better partner and home than Johnson & Johnson as the Shockwave team prepares to write its next exciting chapter.”
Betsy Goodfellow
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