Global Briefs: Johnson & Johnson

A roundup of news from Johnson & Johnson. Highlights below.  

* J&J To Acquire Shockwave Medical for $13.1 Bn 

J&J To Acquire Shockwave Medical for $13.1 Bn 
Johnson & Johnson (J&J) has agreed to acquire Shockwave Medical, a Santa Clara, California-based medical-device company, for $335.00 per share in cash, corresponding to an enterprise value of approximately $13.1 billion, including cash acquired.  

Shockwave is a provider of intravascular lithotripsy (IVL) technology for the treatment of calcified coronary artery disease (CAD) and peripheral artery disease (PAD) . IVL is a minimally invasive, catheter-based treatment for calcified arterial lesions, which can reduce blood flow and cause pain or heart attack. IVL helps restore blood flow by cracking calcium lesions using sonic pressure waves and is used in both CAD and PAD, often in combination with stenting. Shockwave offers IVL technology and has treated approximately 400,000 patients globally. In addition to its IVL platform, Shockwave also recently acquired Neovasc, a company that has developed the Reducer System, a product focused on symptom relief of refractory angina. The Reducer System has a growing commercial presence. It is currently undergoing clinical studies in the US and is CE marked (the regulatory approval for medical devices) in the European Union and the UK. 

The transaction was approved by both companies’ Boards of Directors. 

Source: Johnson & Johnson