J&J to pump another $13B into its MedTech business with Shockwave deal
Time:2024-05-21 19:56:12 Source:opinionsViews(143)
Johnson & Johnson is pumping more money into heart care with a roughly $13 billion deal for Shockwave Medical, which specializes in technology that helps open clogged arteries.
The health care giant said Friday that it will spend $335 in cash for each share of Shockwave. The total deal value includes cash acquired.
The deal has already been approved by the boards of directors from both companies.
Founded in 2009, Shockwave focuses on intravascular lithotripsy technology that uses sonic pressure waves to crack calcium lesions in arteries and restore blood flow. It’s similar to a technique used to break up kidney stones. The soundwave emitters are placed inside angioplasty catheters to reach the calcified areas of the artery.
Shockwave’s technology is used to treat coronary artery and peripheral artery disease.
The company’s revenue jumped 49% last year to $730 million.
You may also like
- Saudi Arabia is going to sponsor the WTA women's tennis rankings under a new partnership
- China's first homegrown polar icebreaker Xuelong 2 to visit HKSAR in April
- Mainland ready to aid disaster relief after Taiwan earthquake: spokesperson
- China launches new remote sensing satellite
- What a blast to work at NASA. Space agency is sky
- Chinese railways gear up for travel rush during Qingming festival
- NetEase Inc renews game partnership with Blizzard
- Zendaya sports a white towel mini dress as she debuts another tennis
- Mystery artist who erected signs comparing pothole