(AOF) – Johnson & Johnson announces that it has entered into a definitive agreement to repurchase all of the outstanding shares of Shockwave Medical for $335 per share, representing an enterprise value of approximately $13.1 billion. This acquisition further expands Johnson & Johnson’s position in cardiovascular, one of the fastest growing medtech markets. The operation will allow it to expand its portfolio to two of the most dynamic segments, namely coronary artery disease (CAD) and peripheral arterial disease (PAD).
Shockwave is a leading provider of intravascular lithotripsy (IVL) technologies for the treatment of coronary artery disease and calcified PAD. IVL is a minimally invasive, catheter-based treatment for calcified arterial lesions, which can reduce blood flow and cause pain or a heart attack.
“By focusing on innovative medicine and medical technologies, Johnson & Johnson has a long history of fighting cardiovascular disease, the leading cause of death worldwide,” said Joaquin Duato, CEO of Johnson & Johnson. “The acquisition of Shockwave and its IVL technology provides a unique opportunity to enhance our impact in cardiovascular intervention and drive greater value for patients, shareholders and health systems.”
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