Aug 20 Reuters Johnson Johnson said on Tuesday it would buy privately held VWave for up to 1.7 billion, the healthcare conglomerate39;s second deal this year aimed at boosting its presence in the market for heart disease devices.

JJ 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 JJ as it looks to drive growth beyond 2025, when blockbuster psoriasis drug Stelara is expected to face biosimilar rivals.

In April, JJ 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 Numab39;s skin disorder drug, and its 850 million deal for Proteologix.

The VWave deal pushes JJ further into the highgrowth 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 JJ, Singh added.

VWave39;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.

Reporting by Manas Mishra and Unnamalai L in Bengaluru; Editing by Devika Syamnath

Source Reuters