J&J to pump another $13B into its MedTech business with Shockwave deal

Johnson & Johnson is pumping more money into heart care with a roughly $13 billion deal for Shockwave Medical, which specializes in technology that helps open clogged arteries. The health care giant said Friday that it will spend $335 in cash for each share of Shockwave. The deal has already been approved by the boards of directors from both companies. Shockwave specializes in intravascular lithotripsy, technology that uses sonic pressure waves to crack calcium lesions in arteries and restore blood flow, along with stenting. The technology is used to treat coronary artery and peripheral artery disease.