Johnson & Johnson, the world’s largest, most diversified healthcare products company, announced on Dec 22, 2022, it has completed its acquisition of Abiomed Inc.
As part of Johnson & Johnson, Abiomed will operate as a standalone business within Johnson & Johnson’s MedTech segment.
“We are excited to officially welcome the talented Abiomed team to Johnson & Johnson. Their patient-first philosophy aligns with Our Credo and Our Purpose to change the future of health for humanity,” said Joaquin Duato, CEO of Johnson & Johnson.
“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.”
Ashley McEvoy, Executive Vice President and Worldwide Chairman of MedTech at Johnson & Johnson, added: “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.
“Fueled by Johnson & Johnson’s global scale and commercial and clinical strength, we are excited to explore the opportunities and possibilities ahead to reach even more patients with critical unmet need.”
Johnson & Johnson’s tender offer for all outstanding shares of Abiomed for an upfront payment of US$380 per share in cash, corresponding to an enterprise value of approximately US$16.6 billion, which includes cash acquired, expired at 11:59 p.m., New York City time, on Dec 21, 2022.
Abiomed shareholders will also receive a non-tradeable contingent value right (“CVR”) entitling the holder to receive up to US$35.00 per share in cash if certain commercial and clinical milestones are achieved.
American Stock Transfer & Trust Company, LLC, the depositary for the tender offer, has advised Johnson & Johnson that approximately 25,759,195 shares of Abiomed common stock were validly tendered and not properly withdrawn in the tender offer, representing approximately 57.1 per cent of the then-outstanding shares of Abiomed’s common stock.
In connection with the completion of the transaction, Abiomed’s common stock ceased trading on NASDAQ. – The Health
