Johnson & Johnson acquires cardiovascular tech Abiomed for $16.6B

Johnson & Johnson will buy cardiovascular technology company Abiomed for $16.6 billion to strengthen its medical device division.

The healthcare giant said Tuesday that it will pay $380 per share of Biomed and provide $35 per share in cash if certain commercial and clinical milestones are met.

Abiomed develops technologies to treat coronary artery disease and heart failure.

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