Johnson & Johnson on Tuesday announced a $1.7 billion deal to buy V-Wave Ltd., which develops an innovative implant device for treating heart failure, as the U.S. healthcare giant pushes further into digital and medical technology space… This purchase is part of a wider strategy at J&J to bolster its cardiovascular disease offerings.
The healthcare titan has agreed to pay $600 million initially and as much as another $1. The expected close of the V-Wave acquisition is at year 2024, subject to regulatory approvals and customary closing conditions. After completion, V-Wave will become part of Johnson & Johnson MedTech.
Strategic Move to Expand Cardiovascular Care
“Managing the health of people living with atrial fibrillation or other heart conditions requires continuous attention, as well as ongoing development and innovation,” said J&J’s Tim Schmid,” worldwide chair of MedTech at Johnson & Johnson. “Executing on our share repurchase program and raising primary capital through stock issuance allows us to maintain balance sheet strength while also driving growth for the Company,” Schmid added. J&J said it made an initial investment in V-Wave back in 2016, which Huennekens also observed as evidence that the company was serious about garnering a new approach to treating heart failure this time.
