On August 20, Johnson & Johnson (J&J) announced that it entered into an agreement to acquire V-Wave Ltd. for an upfront price of $600 million.
V-Wave is a privately held medical device company that was established in 2009 and is focused on developing innovative treatment options for people living with heart failure and cardiovascular disease. V-Wave’s cardiovascular implant technology specifically targets heart failure with reduced ejection fraction. The company is based in Pardes Hana – Karkur, Israel.
J&J 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. According to its most recent financial report, Johnson & Johnson’s revenue for the full year 2023 was $85.2 billion, and EBITDA was approximately $24.6 billion.
The acquisition of V-Wave will extend J&J’s MedTech’s position as an innovation leader in addressing cardiovascular disease. It will further accelerate J&J’s shift into high-growth and high-opportunity markets and will deepen its relationships with structural interventional cardiologists and heart failure specialists. The transaction is expected to close before the end of 2024.
J&J will acquire V-Wave for an upfront payment of $600 million, subject to customary adjustments, with the potential for additional regulatory and commercial milestone payments up to approximately $1.1 billion. J&J expects the transaction to dilute adjusted earnings per share by $0.24 in 2024 and $0.06 in 2025.
According to data captured in the LevinPro HC database, this acquisition represents the 57th Medical Devices deal of the year. In 2023, there were 113 Medical Devices acquisitions. Additionally, this transaction marks J&J’s fifth acquisition of 2024.
