Johnson & Johnson to buy Shockwave Medical for $12.5 bln
Shockwave Medical for $12.5 billion, in a deal that would help broaden its portfolio of medical devices used in treating heart diseases.
The transaction — which is J&J's biggest since its $16.6 billion acquisition of heart pump maker Abiomed in 2022 — would give it access to a medical device that uses shockwaves to break down calcified plaque in heart vessels, similar to how kidney stones are treated.
J&J has offered $335 per share in cash, or a 17% premium to the stock's closing price in late March, when the Wall Street Journal reported that the healthcare conglomerate was in talks to buy the company. Shockwave shares rose 1% to $323.45 in premarket trading.
The deal, which values Shockwave at an enterprise value of about $13.1 billion, is expected to close by mid-2024, the companies said.
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