J&J to Purchase Cardio Tech Company Abiomed in $16.6 Billion Deal

Johnson & Johnson will spend $16.6 billion to buy cardiovascular technology company Abiomed to strengthen its medical device division.

The health care giant said Tuesday that it will pay $380 for each Abiomed share and also provide another $35 per share in cash if some commercial and clinical milestones are met.

Abiomed develops technology that treats coronary artery disease and heart failure. That includes Impella heart pumps, which are used for patients with severe coronary artery disease.

Read the source article at abcnews.go.com