Aug 20 (Reuters) - Johnson & Johnson ( JNJ ) said on

Tuesday it would buy medical device maker V-Wave for up to $1.1

billion, the latest in a string of acquisitions aimed at driving

growth once its blockbuster drug Stelara loses patent

protection.

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 expected to boost Johnson & Johnson's ( JNJ ) earnings

by about 24 cents in 2024, and by 6 cents in 2025.

V-Wave's device is implanted in the heart through a

minimally invasive procedure to help reduce heart failure and

other events. It is not yet cleared for use in the United

States.

J&J is gearing up to face increased competition for

blockbuster psoriasis drug Stelara from next year.

In April, the company said it would buy Shockwave Medical

in a deal valued at $13.1 billion including debt. Other

recent deals include its $1.25 billion acquisition of Numab's

skin disorder drug, and its $850 million deal for Proteologix.

(Reporting by Manas Mishra and Unnamalai L in Bengaluru;

Editing by Devika Syamnath)