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Johnson & Johnson announced Friday that it will acquire medical device maker Shockwave Medical for about $13.1 billion, with the company hoping to further help fight heart disease.

California-based Shockwave Medical makes devices to treat the most common cause of death in the United States. According to its website, the device uses shock waves to break down calcified plaque within a person’s cardiovascular vessels.

Founded in 1886, J&J is an American multinational manufacturer of medical devices, pharmaceuticals, and consumer packaged products headquartered in New Brunswick, New Jersey.

In a deal approved by both companies’ boards of directors, J&J announced in a news release that the drugmaker has entered into an agreement in which J&J will pay Medical Shockwave $335 per share in cash.

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Markets with “critical unmet patient needs”

The acquisition of Shockwave further expands Johnson & Johnson MedTech’s position in cardiovascular interventions and “accelerates our transition into high-growth markets,” the company said in a statement Friday.

“Cardiovascular intervention is one of the fastest growing medical technology markets worldwide, with significant unmet patient needs,” the company’s release said. “With the addition of Shockwave, Johnson & Johnson expands its MedTech cardiovascular portfolio into two of the highest-growth, innovation-driven segments of interventional cardiovascular disease: coronary artery disease (CAD) and peripheral artery disease (PAD). It will expand.”

Shockwave is a leading provider of innovative intravascular lithotripsy (IVL) technology for the treatment of calcified CAD and PAD that was first to market and continues to be released.

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Acquisitions to put devices in the hands of more doctors around the world

The transaction follows J&J MedTech’s acquisitions of Abiomed, a leader in cardiac recovery, and Laminar, an innovator in left atrial appendage removal for patients with non-valvular atrial fibrillation, the release said.

“Johnson & Johnson has a long history of addressing cardiovascular disease,” said Joaquín Duato, J&J Chairman and Chief Executive Officer. “This is a unique opportunity to accelerate impact and deliver greater value for patients.” Shareholders and health care systems. ”

Tim Schmidt, senior vice president of J&J MedTech, said the move will put Shockwave’s devices into the hands of more doctors around the world.

Natalie Neisa Alland is a senior reporter at USA TODAY. Contact her at nalund@usatoday.com and follow her at X @nataliealund.

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