Healthcare products company Johnson & Johnson (J&J) (NYSE:JNJ) announced on Tuesday that it has agreed to purchase V-Wave, a privately held medical device company, for an upfront payment of USD600m.

The deal could be worth up to an additional USD1.1bn in regulatory and commercial milestone payments.

V-Wave specialises in heart failure treatments, particularly its Ventura Interatrial Shunt (IAS) device. The IAS is designed to reduce the strain on the heart by redirecting blood flow. This minimally invasive procedure aims to bridge the gap between medical treatments and more invasive options like heart transplants.

The acquisition strengthens Johnson & Johnson MedTech's position in cardiovascular care and expands its reach in high-growth markets. The deal is expected to close before the end of 2024.