Johnson & Johnson on Friday said it completed its acquisition of Shockwave Medical. Shockwave is now part of the New Brunswick-based health care giant and will operate as a business unit within Johnson & Johnson MedTech.
Shockwave’s differentiated solutions and robust pipeline represent an opportunity for Johnson & Johnson MedTech to bring more innovations to patients in one of the largest areas of unmet medical need, as it further extends Johnson & Johnson MedTech’s leadership in cardiovascular intervention.
Shockwave offers the first and only commercially available intravascular lithotripsy platform for coronary artery disease and peripheral artery disease and complements Johnson & Johnson’s leading positions in heart recovery and electrophysiology to make it a category leader in four of the largest and highest-growth medtech markets within cardiovascular intervention.
“Through innovative medicine and medtech, Johnson & Johnson is transforming the trajectory of cardiovascular disease, one of the leading causes of death globally. We are delighted to welcome the Shockwave team to Johnson & Johnson and look forward to bringing their innovative IVL technology to more patients around the world,” Joaquin Duato, chairman and CEO of Johnson & Johnson, said.
Shockwave is ultimately expected to become Johnson & Johnson MedTech’s 13th priority platform, as defined by annual sales of at least $1 billion. The transaction is expected to accelerate revenue growth for both Johnson & Johnson and Johnson & Johnson MedTech.
In connection with the completion of the transaction, Shockwave’s common stock ceased trading on Nasdaq.
