Summary by Futu AI
Johnson & Johnson (J&J) has entered into a definitive agreement to acquire Shockwave Medical, Inc. for $335 per share in cash, amounting to an enterprise value of approximately $13.1 billion, including cash acquired. The acquisition, approved by both companies' boards of directors, is expected to close by mid-year 2024, subject to customary closing conditions and regulatory approvals. This strategic move will enhance J&J's MedTech division, particularly in the cardiovascular intervention segment, and is expected to be accretive to operating margin for both J&J and its MedTech division. Shockwave Medical is recognized for its innovative intravascular lithotripsy (IVL) technology, used in the treatment of calcified coronary and peripheral artery disease. The acquisition follows J&J's recent purchases of Abiomed...Show More