Johnson & Johnson closed its acquisition of Abiomed on Thursday for $380 per share, for a total price of about $16.6 billion.
The purchase, announced last month, adds to J&J’s cardiovascular segment by bringing in the Danvers, Massachusetts-based maker of heart pumps as a standalone business. J&J MedTech Chairman Ashley McEvoy said the acquisition would add heart recovery solutions to complement its Biosense Webster electrophysiology business, letting the company expand in high-growth markets.
It would also bring the largest medtech deal of the year to a close.
“This acquisition marks another important step on Johnson & Johnson’s path to accelerating growth in our MedTech business and delivering innovative medical technologies to more people around the world,” CEO Joaquin Duato said in a news release.
The acquisition closed without a vote from Abiomed stockholders. Shares that were not tendered in the offer were acquired by J&J and converted into the right to receive $380 per share.
Abiomed’s shareholders will also be able to receive an additional $35 per share if the company meets certain commercial and clinical milestones.
J&J expects the purchase to be slightly dilutive to neutral on its earnings in the first year, and to add to earnings starting in 2024.
