Johnson & Johnson to acquire Shockwave Medical for $13.1 B

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Johnson & Johnson and Shockwave Medical, Inc. have announced a definitive agreement under which Johnson & Johnson will acquire all outstanding shares of Shockwave for $335.00 per share in cash, corresponding to an enterprise value of approximately $13.1 billion including cash acquired.

The acquisition of Shockwave further extends Johnson & Johnson MedTech’s position in cardiovascular intervention and accelerates its shift into higher-growth markets. Cardiovascular intervention is one of the fastest-growing global medtech markets, with significant unmet patient needs. With the addition of Shockwave, Johnson & Johnson will expand its MedTech cardiovascular portfolio into two of the highest-growth, innovation-oriented segments of cardiovascular intervention – coronary artery disease (CAD) and peripheral artery disease (PAD).

Shockwave’s IVL and Abiomed’s Impella heart pump platform play a critical role in complex percutaneous coronary intervention (PCI) procedures. This clinical compatibility, combined with Johnson & Johnson MedTech’s established global commercial infrastructure, provides numerous opportunities to accelerate the adoption of these segment-leading technologies to patients in need and enable serving patients worldwide.

Shockwave is also evaluating its Reducer System technology in clinical studies to treat patients with refractory angina. The acquisition will provide a robust pipeline for future growth in underpenetrated markets.

The transaction is expected to accelerate revenue growth for both Johnson & Johnson and Johnson & Johnson MedTech. Shockwave is ultimately expected to become Johnson & Johnson MedTech’s thirteenth priority platform, as defined by annual sales of at least $1 billion.