Shockwave Medical To Acquire Neovasc

Jan 17, 2023•over 2 years ago

Acquiring Company

ShockWave Medical, Inc.

Acquired Company

Neovasc

Santa ClaraTherapeuticsMedical DeviceMedicalBiotechnologyHealth CareBiotechnologyHealth CareManufacturingMedical DeviceMedical

Description

via NewMediaWire -- Neovasc Inc. ("Neovasc" or the "Company") (NASDAQ,TSX: NVCN), a leader in the development of minimally invasive devices for the treatment of refractory angina, announced today that the Company has entered into a binding agreement (the “Arrangement Agreement”) with Shockwave Medical, Inc. (“Shockwave”), whereby Shockwave has agreed to acquire all of the issued and outstanding common shares (the “Common Shares”) of the Company (the “Transaction”).

Company Information

Company

ShockWave Medical, Inc.

Location

5403 BETSY ROSS DRIVE

Santa Clara, California, United States

About

Shockwave Medical is focused on developing and commercializing products intended to transform the way calcified cardiovascular disease is treated. Shockwave Medical aims to establish a new standard of care for the interventional treatment of atherosclerotic cardiovascular disease through differentiated and proprietary local delivery of sonic pressure waves for the treatment of calcified plaque, which the company refers to as Intravascular Lithotripsy (IVL). IVL is a minimally invasive, easy-to-use and safe way to significantly improve patient outcomes.

M&A Insights

Based on deal data

Integration timeline

70% of M&A integrations take 12-24 months to complete

Tech stack consolidation

83% of merged companies consolidate technology vendors within first year

Post-acquisition investment

Companies increase IT spending by 23% on average after acquisitions

Success factor

M&A deals with strong technology integration plans are 2.5x more likely to succeed

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