Latest Medtech News

Johnson & Johnson agreed to acquire medical-devices maker Shockwave Medical for a total enterprise value of about $13.1 billion.

Shockwave makes medical devices that treat cardiovascular diseases, particularly for calcified arterial lesions. In February, it projected revenue for 2024 in a range from $910 million to $930 million, which would be a roughly 27% increase from the previous year.

“The acquisition of Shockwave further extends Johnson & Johnson MedTech’s position in cardiovascular intervention and accelerates its shift into higher-growth markets,” the company said.

The deal is Johnson & Johnson’s biggest since its $16.6 billion purchase of heart-device maker Abiomed, which it agreed to in November 2022.

The volume of announced and closed healthcare industry deals in Q4 2023 (506) was up slightly from Q4 2022 (just under 500 transactions); however, volume remains short of pre-pandemic totals. Deal volume in December and November 2023 was 154 and 153, respectively, down from 199 in October.

As has been the case for the past several years, the life sciences & pharmaceutical subsector again had the highest quarterly deal volume (126) of any subsector, followed by digital health (76), medical device & supplies (62), and physician practices & services (57).

The linked article sets forth more details on consolidation activity in the major healthcare industry sectors during the end of 2023, followed by our outlook for healthcare deal activity throughout 2024.