US-based medical technology firm Johnson & Johnson (J&J) has completed its previously announced $1.7bn acquisition of heart failure implant maker V-Wave.
V-Wave, which specialises in interatrial shunt technology, will now operate under Johnson & Johnson MedTech. Its financials will be reported within Johnson & Johnson MedTech’s Cardiovascular portfolio.
The acquisition was announced in August this year. Johnson & Johnson started its partnership with V-Wave with an investment in 2016.
Under the agreement, Johnson & Johnson has acquired V-Wave for an upfront payment of $600m. The deal also has the potential for additional milestone payments, totalling up to approximately $1.1bn, based on regulatory and commercial achievements.
V-Wave develops cardiovascular implant technology for heart failure with reduced ejection fraction (HFrEF).
Its Ventura interatrial shunt (IAS) received US Food and Drug Administration (FDA) breakthrough device designation in 2019 and CE mark approval in 2020.
The acquisition of V-Wave is expected to strengthen Johnson & Johnson MedTech’s presence in cardiovascular care.
It enhances the medical device company’s ability to address heart failure, a critical unmet medical need.
The acquisition also accelerates J&J’s focus on high-growth markets and complements its diverse medical technology portfolio, which includes solutions for coronary artery disease, peripheral artery disease, heart recovery, and atrial fibrillation.
Additionally, it will deepen relationships with structural interventional cardiologists and heart failure specialists.
Johnson & Johnson MedTech executive vice president and worldwide chairman Tim Schmid said: “We’re excited to officially welcome V-Wave to Johnson & Johnson MedTech. V-Wave’s novel implantable device, the Ventura Interatrial Shunt, offers tremendous promise for patients experiencing heart failure with reduced ejection fraction.
“This technology has the potential to be the first device of its kind to market. We look forward to working with the talented V-Wave team to bring this transformative innovation to patients.”
The latest acquisition follows Johnson & Johnson’s expanding cardiovascular treatment portfolio. The company has made significant investments in this area.
In late 2022, the company acquired heart pump maker Abiomed for $16.6bn.
Last fall, the medical device firm announced a $400m purchase of Laminar to enter the left atrial appendage (LAA) device market.
Earlier this year, J&J acquired Shockwave Medical, a maker of intravascular lithotripsy (IVL) technology, for $13.1bn.
