Johnson & Johnson announced it has completed its acquisition of Shockwave Medical. Shockwave is now part of Johnson & Johnson and will operate as a business unit within Johnson & Johnson MedTech. Shockwave is ultimately expected to become Johnson & Johnson MedTech’s thirteenth priority platform, as defined by annual sales of at least $1B. The transaction is expected to accelerate revenue growth for both Johnson & Johnson and Johnson & Johnson MedTech. Johnson & Johnson expects the transaction to be accretive to operating margin, but considering the impact of financing costs, is expected to dilute adjusted earnings per share by approximately 10c in 2024 and approximately 17c in 2025. In connection with the completion of the transaction, Shockwave’s common stock ceased trading on Nasdaq.
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