JnJ completes acquisition of V Wave
New Brunswick: Johnson & Johnson has announced that it has successfully completed the acquisition of V-Wave Ltd., a privately-held company focused on developing innovative treatment options for patients with heart failure. V-Wave will operate as part of Johnson & Johnson MedTech.
"The acquisition of V-Wave extends Johnson & Johnson MedTech’s position in cardiovascular disease and provides an even greater opportunity to tackle heart failure, one of the most pressing unmet medical needs in healthcare today. It further accelerates the Company’s shift into high-growth and high-opportunity markets and complements a well-rounded medical technology portfolio of leading platforms that address coronary artery disease and peripheral artery disease, heart recovery, and atrial fibrillation. It will also deepen the Company’s relationships with structural interventional cardiologists and heart failure specialists," the release stated.
Tim Schmid, Executive Vice President and Worldwide Chairman of Johnson & Johnson MedTech, said, “We’re excited to officially welcome V-Wave to Johnson & Johnson MedTech. V-Wave’s novel implantable device, the Ventura Interatrial Shunt, offers tremendous promise for patients experiencing heart failure with reduced ejection fraction. This technology has the potential to be the first device of its kind to market. We look forward to working with the talented V-Wave team to bring this transformative innovation to patients.”
In accordance with U.S. GAAP, the transaction will be accounted for as an asset acquisition, resulting in an in-process research and development charge of approximately $600 million in the fourth quarter of 2024. As previously disclosed, Johnson & Johnson expects the transaction to dilute adjusted earnings per share (EPS) by approximately $0.24 in 2024 and approximately $0.06 in 2025. Johnson & Johnson will provide an update to its full-year 2024 financial outlook when it reports third quarter 2024 results on October 15, 2024.
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