US healthcare giant Johnson & Johnson (NYSE: JNJ) has entered a definitive agreement to acquire all outstanding shares of Shockwave Medical (Nasdaq: SWAY), in a move aimed at boosting its MedTech business.
In a transaction approved by both companies’ boards of directors, J&J will pay $335.00 per Shockwave share in cash, corresponding to an enterprise value of around $13.1 billion including cash acquired. Subject to shareholders’ approval, closing in expected by mid-year 2024.
J&J chief executive Joaquin Duato said the acquisition provided “a unique opportunity to accelerate our impact in cardiovascular intervention and drive greater value for patients, shareholders and health systems.” Shockwave’s technology has treated approximately 400,000 patients globally, the company said.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
7 day trial access
Become a subscriber
Or £77 per month
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze