Johnson & Johnson has successfully acquired V-Wave, a heart failure medical technology specialist.
The pharma giant paid USD $600m upfront in this deal, with the potential for the company to gain up to $1.7bn from the arrangement.
Through the acquisition, Johnson & Johnson will adds V-Wave's Ventura interarterial shunt to its cardiovascular portfolio.
Primary results from clinical trials on Ventura have been positive, with patients experiencing a reduced prevalence of clinical events when the shunt was utilised.
As per the agreement, V-Wave will operate as part of Johnson & Johnson MedTech.
Johnson & Johnson's acquisition of V-Wave extends its MedTech division's position in the cardiovascular disease market, and was part of its move into high-growth and opportunity markets.
The company will also endeavour to deepen its relationships with structural interventional cardiologists and heart failure speciliasts through this acquisition.
Johnson MedTech's Executive Vice President and Worldwide Chairman, Tim Schmid, commented: “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.”