Johnson & Johnson acquired cardiovascular medical technology provider Abiomed, Inc. for $16.6 billion.
Danvers, Massachusetts-based Abiomed has a portfolio that focuses on the treatment of coronary artery disease and heart failure and features an extensive innovation pipeline of life-saving technologies as well as an 18-year record of profitable growth.
New Brunswick, New Jersey-based Johnson & Johnson is one of the largest global healthcare and pharmaceutical companies with more than 130,000 employees worldwide. Its business lines include pharmaceuticals, medical devices and consumer healthcare products.
Johnson & Johnson will acquire through a tender offer all outstanding shares of Abiomed for an upfront payment of $380 per share in cash, corresponding to an enterprise value of approximately $16.6 billion that includes cash acquired. Abiomed shareholders will also receive a non-tradeable contingent value right entitling the holder to receive up to $35 per share in cash if certain commercial and clinical milestones are achieved.
According to the LevinPro HC database, this is the largest transaction of the year by purchase price in the Medical Devices sector. It also marks the 101st Medical Devices acquisition of the year.
