Aug 20 (Reuters) - Johnson & Johnson ( JNJ ) 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.

In April, J&J 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.

The V-Wave deal pushes J&J further into the high-growth

market for heart failure devices, said RBC Capital Markets

analyst Shagun Singh. With the device expected to treat a

condition that affects 800,000 patients every year, it should

represent a stable and meaningful market opportunity for J&J,

Singh added.

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

minimally invasive procedure to help reduce heart failure and

other cardiovascular events. It is not yet cleared for use in

the United States.