08:00 AM EDT, 08/20/2024 (MT Newswires) -- Johnson & Johnson ( JNJ ) said Tuesday it agreed to acquire medical device company V-Wave for an upfront payment of $600 million, with additional milestone payments of up to $1.1 billion.

Following deal completion, expected before the end of 2024, V-Wave will be integrated into Johnson & Johnson MedTech, Johnson & Johnson ( JNJ ) said. Michael Bodner, Group President, Heart Recovery & Intravascular Lithotripsy, will oversee V-Wave following the acquisition.

Johnson & Johnson ( JNJ ) said the deal is expected to dilute 2024 adjusted earnings per share by approximately $0.24 and by $0.06 in 2025.

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