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May 31, 2024
Johnson & Johnson Completes Acquisition of Shockwave Medical
May 31, 2024—Johnson & Johnson announced it has completed its acquisition of Shockwave Medical. Shockwave is now part of Johnson & Johnson and will operate as a business unit within Johnson & Johnson MedTech. In connection with the completion of the transaction, Shockwave’s common stock ceased trading on NASDAQ.
On April 5, the companies 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 transaction was approved by both companies’ boards of directors.
According to the company, this transaction extends Johnson & Johnson MedTech’s presence in cardiovascular intervention. Shockwave’s commercially available intravascular lithotripsy (IVL) platform for coronary artery disease and peripheral artery disease complements Johnson & Johnson’s positions in heart recovery (Abiomed) and electrophysiology (Biosense Webster). Shockwave is expected to become Johnson & Johnson MedTech’s thirteenth priority platform, as defined by annual sales of at least $1 billion, advised Johnson & Johnson.
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