Johnson & Johnson buys cardiovascular technology Abiomed for $16.6 billion.
- Johnson & Johnson will purchase Abiomed for $16.6 billion to boost its medical device sector.
- The health care behemoth announced Tuesday that it will pay $380 for each Abiomed share and $35 in cash provided certain commercial and clinical goals are completed.
- Abiomed produces heart failure and coronary artery disease treatments. Impella heart pumps for severe coronary artery disease patients.
- J&J expects the transaction to finalise early next year and expand its medical device sector by joining a high-growth market.
- After the transaction, Abiomed will operate independently inside J&J’s medical equipment unit.