{"id":10063,"date":"2024-05-31T13:20:18","date_gmt":"2024-05-31T18:20:18","guid":{"rendered":"https:\/\/shockwavemedical.com\/news\/johnson-johnson-completes-acquisition-of-shockwave-medical\/"},"modified":"2024-05-31T13:20:18","modified_gmt":"2024-05-31T18:20:18","slug":"johnson-johnson-completes-acquisition-of-shockwave-medical","status":"publish","type":"news","link":"https:\/\/shockwavemedical.com\/en-eu\/news\/johnson-johnson-completes-acquisition-of-shockwave-medical\/","title":{"rendered":"Johnson &#038; Johnson Completes Acquisition of Shockwave Medical"},"content":{"rendered":"\n<section id=\"block_6de4c34ed8ac5694cf93cf0e9098cd1c\" class=\"block block--wysiwyg wysiwyg_styles u-bgColorNone container\">\n\t<div class=\"u-wysiwyg u-animation\">\n\t\t<p><b>NEW BRUNSWICK, N.J.\u2014May 31, 2024\u2014<\/b><span class=\"bsp-global-nowrap\">Johnson & Johnson<\/span>\u00a0(NYSE: JNJ) today announced it has completed its acquisition of Shockwave Medical. Shockwave is now part of\u00a0<span class=\"bsp-global-nowrap\">Johnson & Johnson<\/span>\u00a0and will operate as a business unit within\u00a0<span class=\"bsp-global-nowrap\">Johnson & Johnson<\/span> MedTech.<\/p>\n<div class=\"shell\">\n<p class=\"pr-title-wrap\">Joaquin Duato, Chairman and Chief Executive Officer of\u00a0<span class=\"bsp-global-nowrap\">Johnson & Johnson<\/span>, said, \u201cThrough Innovative Medicine and MedTech,\u00a0<span class=\"bsp-global-nowrap\">Johnson & Johnson<\/span>\u00a0is transforming the trajectory of cardiovascular disease, one of the leading causes of death globally. We are delighted to welcome the Shockwave team to\u00a0<span class=\"bsp-global-nowrap\">Johnson & Johnson<\/span>\u00a0and look forward to bringing their innovative IVL technology to more patients around the world.\u201d<\/p>\n<\/div>\n<div class=\"RichTextArticleBody RichTextBody\">\n<p>Tim Schmid, Executive Vice President and Worldwide Chairman of\u00a0<span class=\"bsp-global-nowrap\">Johnson & Johnson<\/span>\u00a0MedTech, said, \u201cCompleting this acquisition is a significant milestone in the expansion of our leadership position in the medtech industry. Shockwave\u2019s differentiated solutions and robust pipeline represent an exciting opportunity for\u00a0<span class=\"bsp-global-nowrap\">Johnson & Johnson<\/span>\u00a0MedTech to bring more innovations to patients in one of the largest areas of unmet medical need. We are excited to begin collaborating directly with the Shockwave team and look forward to a bright future together.\u201d<\/p>\n<p>This transaction further extends\u00a0<span class=\"bsp-global-nowrap\">Johnson & Johnson<\/span>\u00a0MedTech\u2019s leadership in cardiovascular intervention. Shockwave offers the first and only commercially available intravascular lithotripsy (IVL) platform for coronary artery disease (CAD) and peripheral artery disease (PAD) and complements\u00a0<span class=\"bsp-global-nowrap\">Johnson & Johnson<\/span>\u2019s leading positions in heart recovery (Abiomed) and electrophysiology (Biosense Webster) to make it a category leader in four of the largest and highest-growth medtech markets within cardiovascular intervention.<\/p>\n<p>Shockwave is ultimately expected to become\u00a0<span class=\"bsp-global-nowrap\">Johnson & Johnson<\/span>\u00a0MedTech\u2019s thirteenth priority platform, as defined by annual sales of at least $1 billion. The transaction is expected to accelerate revenue growth for both\u00a0<span class=\"bsp-global-nowrap\">Johnson & Johnson<\/span>\u00a0and\u00a0<span class=\"bsp-global-nowrap\">Johnson & Johnson<\/span>\u00a0MedTech.\u00a0<span class=\"bsp-global-nowrap\">Johnson & Johnson<\/span>\u00a0expects the transaction to be accretive to operating margin, but considering the impact of financing costs, is expected to dilute adjusted earnings per share by approximately $0.10 in 2024 and approximately $0.17 in 2025.<\/p>\n<p>In connection with the completion of the transaction, Shockwave\u2019s common stock ceased trading on NASDAQ.<\/p>\n<p><b>About\u00a0<span class=\"bsp-global-nowrap\">Johnson & Johnson<\/span><\/b><br \/>\nAt\u00a0<span class=\"bsp-global-nowrap\">Johnson & Johnson<\/span>,\u2009we believe health is everything. Our strength in healthcare innovation empowers us to build a\u2009world where complex diseases are prevented, treated, and cured,\u2009where treatments are smarter and less invasive, and\u2009solutions are personal. Through our expertise in Innovative Medicine and MedTech, we are uniquely positioned to innovate across the full spectrum of healthcare solutions today to deliver the breakthroughs of tomorrow, and profoundly impact health for humanity. Learn more at\u00a0<span class=\"LinkEnhancement\"><a class=\"Link link-enhancement\" href=\"https:\/\/www.jnj.com\/\" target=\"_blank\" rel=\"noopener\" data-cms-ai=\"0\">https:\/\/www.jnj.com\/<\/a><\/span>.<\/p>\n<p><b>Cautions Concerning Forward-Looking Statements<\/b><\/p>\n<ul>\n<li>This communication contains \u201cforward-looking statements\u201d regarding the acquisition of Shockwave by\u00a0<span class=\"bsp-global-nowrap\">Johnson & Johnson<\/span>.<\/li>\n<li>The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events.<\/li>\n<li>If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of\u00a0<span class=\"bsp-global-nowrap\">Johnson & Johnson<\/span>\u00a0or Shockwave. Risks and uncertainties include, but are not limited to: challenges inherent in product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new products; manufacturing difficulties and delays; product efficacy or safety concerns resulting in product recalls or regulatory action; economic conditions, including currency exchange and interest rate fluctuations; the risks associated with global operations; competition, including technological advances, new products and patents attained by competitors; challenges to patents; changes to applicable laws and regulations, including tax laws and global health care reforms; adverse litigation or government action; changes in behavior and spending patterns or financial distress of purchasers of health care services and products; and trends toward health care cost containment.<\/li>\n<li>In addition, there will be risks and uncertainties related to the ability of the\u00a0<span class=\"bsp-global-nowrap\">Johnson & Johnson<\/span>\u00a0family of companies to successfully integrate the programs, products, technologies and employees\/operations and clinical work of Shockwave. A further list and description of these risks, uncertainties and other factors and the general risks associated with the respective businesses of\u00a0<span class=\"bsp-global-nowrap\">Johnson & Johnson<\/span>\u00a0and Shockwave can be found in\u00a0<span class=\"bsp-global-nowrap\">Johnson & Johnson<\/span>\u2019s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the SEC on February 16, 2024, including in the sections captioned \u201cCautionary Note Regarding Forward-Looking Statements\u201d and \u201cItem 1A. Risk Factors,\u201d in\u00a0<span class=\"bsp-global-nowrap\">Johnson & Johnson<\/span>\u2019s most recently filed Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2024, filed with the SEC on May 1, 2024, in\u00a0<span class=\"bsp-global-nowrap\">Johnson & Johnson<\/span>\u2019s subsequent filings with the SEC and in Shockwave\u2019s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the SEC on February 26, 2024, including in the sections captioned \u201cSpecial Note Regarding Forward-Looking Statements\u201d and \u201cItem 1A. Risk Factors,\u201d in Shockwave\u2019s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2024, filed with the SEC on May 6, 2024, and in Shockwave\u2019s subsequent filings with the SEC. Copies of these filings, as well as subsequent filings, are available online at\u00a0<span class=\"LinkEnhancement\"><a class=\"Link link-enhancement\" href=\"file:\/\/\/C:\/Users\/mkhairy\/Downloads\/www.sec.gov\" target=\"_blank\" rel=\"noopener\" data-cms-ai=\"0\">www.sec.gov<\/a><\/span>,\u00a0<span class=\"LinkEnhancement\"><a class=\"Link link-enhancement\" href=\"file:\/\/\/C:\/Users\/mkhairy\/Downloads\/www.jnj.com\" target=\"_blank\" rel=\"noopener\" data-cms-ai=\"0\">www.jnj.com<\/a><\/span>,\u00a0<span class=\"LinkEnhancement\"><a class=\"Link link-enhancement\" href=\"https:\/\/shockwavemedical.com\/\" target=\"_blank\" rel=\"noopener\" data-cms-ai=\"0\">https:\/\/shockwavemedical.com\/<\/a><\/span>\u00a0or on request from\u00a0<span class=\"bsp-global-nowrap\">Johnson & Johnson<\/span>\u00a0or Shockwave. Neither\u00a0<span class=\"bsp-global-nowrap\">Johnson & Johnson<\/span>\u00a0nor Shockwave undertakes to update any forward-looking statement as a result of new information or future events or developments, except as required by law.<\/li>\n<\/ul>\n<\/div>\n<p>\u00a0<\/p>\n<p><strong>Johnson & Johnson<\/strong><\/p>\n<div class=\"RichTextArticleBody RichTextBody footNote\">\n<p><b>Media Contact:<\/b><br \/>\nRyan Carbain<br \/>\n<span class=\"LinkEnhancement\"><a class=\"Link link-enhancement\" href=\"mailto:media-relations@its.jnj.com\" target=\"_blank\" rel=\"noopener\" data-cms-ai=\"0\">media-relations@its.jnj.com<\/a><\/span><\/p>\n<p><b>Investor Contact:<\/b><br \/>\nTracy Menkowski<br \/>\n<span class=\"LinkEnhancement\"><a class=\"Link link-enhancement\" href=\"mailto:investor-relations@its.jnj.com\" target=\"_blank\" rel=\"noopener\" data-cms-ai=\"0\">investor-relations@its.jnj.com<\/a><\/span><\/p>\n<hr \/>\n<p>This press release was originally published on <a href=\"https:\/\/www.jnj.com\/media-center\/press-releases\/johnson-johnson-completes-acquisition-of-shockwave-medical\" target=\"_blank\" rel=\"noopener\">jnj.com<\/a><\/p>\n<\/div>\n\t<\/div>\n\t<\/section>","protected":false},"excerpt":{"rendered":"<p>Johnson &#038; Johnson\u00a0(NYSE: JNJ) today announced it has completed its acquisition of Shockwave Medical.<\/p>\n","protected":false},"featured_media":9219,"template":"","format":[],"meta":{"_acf_changed":true,"content-type":""},"disease-state":[],"news-topic":[],"product-tag":[],"specialty":[],"technology":[],"class_list":["post-10063","news","type-news","status-publish","has-post-thumbnail","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/shockwavemedical.com\/en-eu\/wp-json\/wp\/v2\/news\/10063","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/shockwavemedical.com\/en-eu\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/shockwavemedical.com\/en-eu\/wp-json\/wp\/v2\/types\/news"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/shockwavemedical.com\/en-eu\/wp-json\/wp\/v2\/media\/9219"}],"wp:attachment":[{"href":"https:\/\/shockwavemedical.com\/en-eu\/wp-json\/wp\/v2\/media?parent=10063"}],"wp:term":[{"taxonomy":"disease-state","embeddable":true,"href":"https:\/\/shockwavemedical.com\/en-eu\/wp-json\/wp\/v2\/disease-state?post=10063"},{"taxonomy":"format","embeddable":true,"href":"https:\/\/shockwavemedical.com\/en-eu\/wp-json\/wp\/v2\/format?post=10063"},{"taxonomy":"news-topic","embeddable":true,"href":"https:\/\/shockwavemedical.com\/en-eu\/wp-json\/wp\/v2\/news-topic?post=10063"},{"taxonomy":"product-tag","embeddable":true,"href":"https:\/\/shockwavemedical.com\/en-eu\/wp-json\/wp\/v2\/product-tag?post=10063"},{"taxonomy":"specialty","embeddable":true,"href":"https:\/\/shockwavemedical.com\/en-eu\/wp-json\/wp\/v2\/specialty?post=10063"},{"taxonomy":"technology","embeddable":true,"href":"https:\/\/shockwavemedical.com\/en-eu\/wp-json\/wp\/v2\/technology?post=10063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}