(RTTNews) - Tuesday, Johnson & Johnson (JNJ) announced a definitive agreement to acquire V-Wave Ltd., for an initial payment of $600 million, with the potential for additional payments totaling up to $1.1 billion.
The acquisition includes V-Wave's flagship product, the Ventura Interatrial Shunt, a minimally invasive device to treat heart failure with reduced ejection fraction. The inter-arterial device has also been granted FDA Breakthrough Device Designation and has received a CE mark.
The plan of merger is intended to enhance Johnson & Johnson MedTech's presence in cardiovascular care and fill a significant treatment void for approximately 800,000 HFrEF patients in the United States annually.
Upon completion of the transaction, V-Wave will integrate into Johnson & Johnson MedTech, with Michael Bodner, Group President of Heart Recovery & Intravascular Lithotripsy, taking charge of the V-Wave team.
The transaction is anticipated to close before the end of 2024.
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