Johnson & Johnson to Acquire Abiomed
Strengthens Johnson & Johnson’s MedTech Business with the Addition of Abiomed, a World- Leader in Heart Recovery
sale to Bring Lifesaving inventions to further Cases with Unmet Need
Anticipated to Enhance Johnson & Johnson’s Near- and Long- Term Deals and Earnings Growth; Accretive to Adjusted Earnings beginning in 2024
Conference Call at 800a.m. ET To bandy Details of the sale
Johnson & Johnson( NYSE JNJ), the world’s largest, most diversified healthcare products company, and Abiomed( NASDAQ ABMD), a world leader in breakthrough heart, lung and order support technologies, moment blazoned that they’ve entered into a definitive agreement under which Johnson & Johnson will acquire through a tender offer all outstanding shares of Abiomed, for an outspoken payment of$380.00 per share in cash, corresponding to an enterprise value of roughly$16.6 billion which includes cash acquired. Abiomed shareholders will also admit anon-tradeable contingent value right( CVR) entitling the holder to admit up to$35.00 per share in cash if certain marketable and clinical mileposts are achieved. The sale was unanimously approved by both companies ’ boards of directors.
The sale broadens Johnson & Johnson MedTech’s( JJMT) position as a growing cardiovascular inventor, advancing the standard of care in one of healthcare’s largest unmet need complaint states heart failure and recovery. Cardiovascular complaint is the number one cause of death. All forms of cardiovascular complaint lead to heart failure, which is a significant cost to health systems due to hospitalizations and extended length of stay.
Abiomed is a leading, first- to- request provider of cardiovascular medical technology with a first- in- kind portfolio for the treatment of coronary roadway complaint and heart failure, an expansive invention channel of life- saving technologies, and an 18- time track record of profitable growth. Abiomed operates in one of the fastest growing medtech parts with significant expansion openings in suggestion, terrain, and product.
“ The addition of Abiomed is an important step in the prosecution of our strategic precedences and our vision for the new Johnson & Johnson concentrated on Pharmaceutical and MedTech, ” said Joaquin Duato, Chief Executive Officer of Johnson & Johnson. “ We’ve committed to enhancing our position in MedTech by entering high- growth parts. The addition of Abiomed provides a strategic platform to advance advance treatments in cardiovascular complaint and helps further cases around the world while driving value for our shareholders. ”
“ Abiomed’s professed pool and strong connections with clinicians, along with its innovative cardiovascular portfolio and robust channel, round our MedTech portfolio, global footmark and robust clinical moxie. Together, we’ve the inconceivable occasion to bring lifesaving inventions to further cases around the world, ” said Ashley McEvoy, Executive Vice President and Worldwide Chairman of MedTech at Johnson & Johnson. “ We’re committed to investing for growth and look forward to drinking the talented platoon and working together to foster our participated case-first mindset and winning culture of invention. ”
“ We’re pleased to have reached an agreement that reflects the remarkable value Abiomed created with our revolutionary Impella ® heart pump platform and promising channel, ” said MichaelR. Minogue, Abiomed’s Chairman, President and Chief Executive Officer. “ This sale mates us with an association that shares our cases first mindset and creates immediate value for our cases, guests, workers and shareholders. It’ll enable us to work Johnson & Johnson’s global scale, marketable strength and clinical moxie to accelerate our charge of making heart recovery the global standard of care. ”
About Johnson & Johnson
At Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. That’s why for further than 135 times, we’ve aimed to keep people well at every age and every stage of life. moment, as the world’s largest and most astronomically- grounded health care company, we’re committed to using our reach and size for good. We strive to ameliorate access and affordability, produce healthier communities, and put a healthy mind, body and terrain within reach of everyone, far and wide. We’re blending our heart, wisdom and imagination to profoundly change the line of health for humanity.
Grounded in Danvers, Massachusetts, USA, Abiomed,Inc., is a leading provider of medical technology that provides circulatory support and oxygenation. Our products are designed to enable the heart to rest by perfecting blood inflow and/ or performing the pumping of the heart. For fresh information, please visitwww.abiomed.com. Abiomed, Impella, Impella2.5, Impella5.0, Impella LD, Impella CP, Impella RP, Impella5.5, Impella Connect, and SmartAssist are registered trademarks of Abiomed,Inc., and are registered in theU.S. and certain foreign countries. Impella ECP, Impella BTR, STEMI DTU, Automated Impella Controller, Abiomed Breethe OXY- 1 System and preCARDIA are pending trademarks of Abiomed,Inc.