New Brunswick-based Johnson & Johnson completed its acquisition of Abiomed for approximately $16.6 billion, according to a Thursday announcement.
In November, J&J agreed to acquire Abiomed for $380 per share. For J&J, the acquisition offers exposure to a portfolio of cardiovascular intervention technologies, widening its footprint in heart failure in particular.
Abiomed will operate as a standalone business within Johnson & Johnson’s MedTech segment.
“We are excited to officially welcome the talented Abiomed team to Johnson & Johnson. Their patient-first philosophy aligns with Our Credo and Our Purpose to change the future of health for humanity,” Joaquin Duato, CEO of Johnson & Johnson, said. “This acquisition marks another important step on Johnson & Johnson’s path to accelerating growth in our MedTech business and delivering innovative medical technologies to more people around the world.”
“The completion of this acquisition allows Johnson & Johnson MedTech to expand our portfolio in the high-growth cardiovascular markets, adding solutions for heart recovery to our global market-leading Biosense Webster electrophysiology business. Fueled by Johnson & Johnson’s global scale and commercial and clinical strength, we are excited to explore the opportunities and possibilities ahead to reach even more patients with critical unmet need,” Ashley McEvoy, executive vice president and worldwide chairman of MedTech at Johnson & Johnson, added.
