(Reuters) -Johnson & Johnson is in talks to buy medical device maker Shockwave Medical, the Wall Street Journal reported on Tuesday, with a deal likely to help the healthcare giant expand its presence in cardiovascular devices.

Shockwave, a company that makes devices to treat heart disease, has a market capitalization of around $11 billion, according to LSEG data.

A deal could be finalized in the coming weeks, assuming talks don't fall apart, and it is also possible another suitor could emerge, the report said, citing people familiar with the matter.

J&J did not immediately respond to a Reuters request for comment, while Shockwave Medical said it does not comment on rumors or speculation.

News of the talks lifted shares of Shockwave Medical up 11% in afternoon trade.

The company makes a device which uses shockwaves to break down calcified plaque in heart vessels, similar to how kidney stones are treated.

J&J also has cardiovascular products in its portfolio, and in 2022 acquired heart pump maker Abiomed for $16.6 billion.

(Reporting by Ananya Mariam Rajesh, Mariam Sunny and Leroy Leo in Bengaluru; Editing by Devika Syamnath)