Johnson & Johnson buys Shockwave Medical for $13.1B, acquiring IVL technology for cardiovascular intervention.

Johnson & Johnson (JNJ) has agreed to buy Shockwave Medical for $13.1 billion, strengthening its position in cardiovascular intervention and medical devices. The acquisition will allow JNJ to integrate Shockwave's intravascular lithotripsy (IVL) technology, which uses sonic pressure waves to treat patients with calcified arterial plaque, into its existing portfolio. The deal, which has been approved by both companies' boards of directors, is expected to close by mid-2024.