J&J to buy medical device maker V-Wave for up to $1.7 bln

Johnson & Johnson (JNJ.N), opens new tab said on Tuesday it would buy privately held V-Wave for up to $1.7 billion, the healthcare conglomerate’s second deal this year aimed at boosting its presence in the market for heart disease devices.

J&J said it will pay $600 million upfront, with potential payments of up to $1.1 billion contingent on regulatory and commercial milestones.

The deal is the latest in a string of acquisitions by J&J as it looks to drive growth beyond 2025, when blockbuster psoriasis drug Stelara is expected to face biosimilar rivals.