Johnson & Johnson (J&J) has announced that it will be expanding its cardiovascular disease (CVD) capabilities by acquiring Shockwave Medical for approximately $13.1bn.
The deal will give the company access to Shockwave’s intravascular lithotripsy (IVL) technology for the treatment of calcified coronary artery disease (CAD) and peripheral artery disease (PAD).
IVL is a minimally invasive, catheter-based treatment for calcified arterial lesions, which can reduce blood flow and cause pain or heart attack.
Shockwave offers the only commercially available IVL technology, J&J outlined, adding that the company has “safely, simply and effectively treated approximately 400,000 patients globally”.
CVD, including coronary heart disease and stroke, is the leading cause of death globally, resulting in an estimated 17.9 million deaths every year.
Joaquin Duato, chairman and chief executive officer of J&J, said: “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.”
Alongside its IVL platform, Shockwave recently acquired Neovasc, with the April 2023 acquisition giving the company access to a product focused on symptom relief for refractory angina. The Reducer System is currently undergoing clinical studies in the US and is CE-marked in the UK and EU.
Tim Schmid, executive vice president and worldwide chairman of J&J MedTech, said: “Shockwave offers a truly differentiated opportunity to further enhance our leadership position in MedTech, expand into additional high-growth segments, and ultimately transform the future of cardiovascular treatment.”
Also commenting on the agreement, Shockwave’s president and chief executive officer, Doug Godshall, said: “As part of a larger, more diverse organisation, with broad expertise and a core focus on improving patient outcomes, we are confident we will be able to further solidify IVL as the global standard of care for patients.”
The transaction, which is expected to close by the middle of this year, builds on J&J’s $16.6bn acquisition of heart pump manufacturer Abiomed in 2022.
The company also bought Laminar, a medical device company focused on eliminating the left atrial appendage in patients with non-valvular atrial fibrillation, in November.