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(Sharecast News) - Johnson & Johnson said on Friday that it has agreed to buy Shockwave Medical, which develops products for the treatment of cardiovascular disease, for $13.1bn.
The US pharmaceutical and medical technologies company said the deal further extends Johnson MedTech's position in cardiovascular intervention and accelerates its shift into higher-growth markets.
It noted that cardiovascular intervention is one of the fastest-growing global medtech markets, with significant unmet patient need.
"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)," it said.
Shockwave provides intravascular lithotripsy (IVL) technology for the treatment of calcified CAD and PAD. IVL is a minimally invasive, catheter-based treatment for calcified arterial lesions, which can reduce blood flow and cause pain or heart attack.
It 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. J&J pointed out that Shockwave offers the only commercially available IVL technology and has "safely, simply, and effectively treated approximately 400,000 patients globally".
J&J chairman and chief executive Joaquin Duato said: "With our focus on Innovative Medicine and MedTech, Johnson & Johnson has a long history of tackling cardiovascular disease - the leading cause of death globally.
"The acquisition of Shockwave and its leading IVL technology provides a unique opportunity to accelerate our impact in cardiovascular intervention and drive greater value for patients, shareholders and health systems."
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