Johnson & Johnson (J&J) has signed a definitive agreement to acquire US-based medical technology firm Abiomed in a deal valued at nearly $16.6bn.
Under the deal terms, the company will make a $380 upfront payment for each Abiomed share and also provide up to $35 per share in cash to Abiomed shareholders on achieving certain commercial and clinical milestones.
J&J expects that the transaction will expand its MedTech Business position in the heart failure and recovery sector.
