Johnson & Johnson's $13 Billion Acquisition of Shockwave Medical Energizes Heart Device Business

Johnson & Johnson has agreed to acquire Shockwave Medical for $12.5 billion, expanding its portfolio of medical devices for treating heart diseases. The acquisition provides J&J access to Shockwave's device that uses shockwaves to break down calcified plaque in heart vessels, with the total addressable market for similar therapies estimated at about $10 billion. This move follows J&J's previous acquisitions to strengthen its cardiac health division, and the company expects to finance the deal through a combination of cash on hand and debt.