Johnson & Johnson Makes Massive $13.1B Shockwave Acquisition!
Johnson & Johnson is set to acquire Shockwave Medical Inc. for around $13.1 billion, marking a significant move in expanding its footprint in the medical device arena, particularly in heart disease treatment. Under the deal, J&J will pay $335 per share in cash for the Santa Clara-based company.
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Shockwave Medical specializes in intravascular lithotripsy, a technique that employs sound waves to dissolve calcification in peripheral circulation and heart veins. Through this acquisition, J&J aims to position itself as a leader in four rapidly growing cardiovascular technology sectors.
The transaction, expected to be completed by mid-year, will be funded through a combination of cash reserves and borrowing. J&J anticipates a slight dilution of shares by approximately $0.10 in 2024 and $0.17 the following year.
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Perella Weinberg Partners is advising Shockwave on the sale, while JPMorgan Securities LLC is assisting J&J.
In January, Johnson & Johnson finalized a $2 billion acquisition of Ambrx Biopharma Inc., securing antibody-drug conjugates to deliver targeted doses to tumors while minimizing damage to surrounding tissues.
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