Sector News

J&J to buy heart device maker Abiomed for $16.6B

November 6, 2022
Life sciences

J&J has been hunting for companies to buy. At the start of the year, the company’s new CEO Joaquin Duato said J&J would take a more “aggressive” approach to dealmaking, although he and other executives had indicated a preference toward small- and mid-sized acquisitions of medical technology and biotechnology companies.

Analysts had previously speculated that J&J could acquire a cardiology firm such as Boston Scientific.

In a statement, Duato said in the acquisition of Abiomed is “an important step in the execution of our strategic priorities” as the company focuses on its pharma and medtech businesses.

“We have committed to enhancing our position in medtech by entering high-growth segments,” he added. “The addition of Abiomed provides a strategic platform to advance breakthrough treatments in cardiovascular disease and helps more patients around the world while driving value for our shareholders.” READ MORE

by Elise Reuter

Source: biopharmadive.com

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