Johnson & Johnson (J&J) has closed the previously announced acquisition of Abiomed, a medical device technology company, for an enterprise value of around $16.6bn, in a move to strengthen its MedTech portfolio.

The acquisition of Abiomed, which was announced in November 2022, is expected to add heart recovery solutions to the MedTech portfolio of Johnson & Johnson.

Joaquin Duato — Johnson & Johnson CEO said: “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.”

The deal is also expected to fast-track pro forma MedTech and Johnson & Johnson enterprise revenue growth.

Abiomed is now part of Johnson & Johnson and will operate as a standalone business within Johnson & Johnson’s MedTech (JJMT) segment, becoming one of 12 JJMT platforms.

Ashley McEvoy — Johnson & Johnson Executive Vice President and MedTech Worldwide Chairman said: “The completion of this acquisition allows Johnson & Johnson MedTech to expand our portfolio in the high growth cardiovascular markets, adding solutions for heart recovery to our global market leading Biosense Webster electrophysiology business.”

Completed on 22 December 2022 through a merger of purchaser with and into Abiomed, Johnson & Johnson said the deal would not have any material impact on the company’s 2022 financial results.

Abiomed’s common stock stopped trading on NASDAQ, following the close of the deal.

Abiomed manufactures medical technology that provides circulatory support and oxygenation to enable the heart to rest by improving blood flow and/or performing the pumping of the heart.

The registered trademarks of Abiomed include Abiomed, Impella, Impella 2.5, Impella 5.0, Impella CP, Impella LD, Impella 5.5, Impella RP, Impella Connect, and SmartAssist.

  Abiomed, Ashley McEvoy, Joaquin Duato, Johnson & Johnson, Johnson & Johnson MedTech, USA