Johnson & Johnson Buys Israeli MedTech Firm For Up To $1.7B

American pharmaceutical giant Johnson & Johnson has announced it is buying Israeli medtech company V-Wave, which makes a device to treat heart failure, for up to $1.7 billion. 

V-Wave’s proprietary, minimally invasive Ventura Interatrial Shunt (IAS) is designed to treat patients with heart failure. The shunt between the left and right atria in the heart aims to reduce elevated pressure in the left atrium. 

It received FDA Breakthrough Device Designation in 2019 and CE mark in 2020, and, Johnson & Johnson says, has the potential to be the first device of its kind to market.

The American multinational says it will pay a sum of $600 million upfront, followed by further payments totalling some $1.1 billion should V-Wave hit certain regulatory and commercial milestones. 

Upon purchase, V-Wave will become part of Johnson & Johnson MedTech.  

“We are excited to welcome V-Wave to Johnson & Johnson MedTech and to take another meaningful step toward transforming the standard of care for cardiovascular disease,” said Tim Schmid, Executive Vice President and Worldwide Chairman of Johnson & Johnson MedTech. 

“We look forward to working with the V-Wave team at this pivotal stage of its evolution to bring the Ventura Interatrial Shunt technology to patients,” he said. 

“At V-Wave, we are dedicated to achieving our vision to help patients around the world – and we know Johnson & Johnson MedTech shares this mission,” said Dr. Neal Eigler, Chief Executive Officer of V-Wave. 

“We are confident that Johnson & Johnson MedTech is well-positioned to ensure V-Wave’s breakthrough ideas and technology reach patients in need as quickly and effectively as possible. I couldn’t be prouder of the V-Wave team, and the commitment it has taken to achieve this milestone. We look forward to continuing to build a world where cardiovascular disease is prevented, treated, and cured.”