Abiomed’s $18 Billion Acquisition by J&JDecember 9, 2022
In the largest-ever acquisition in the medtech sector, Sullivan & Cromwell is advising Abiomed in its pending acquisition by Johnson & Johnson for up to $18 billion through a tender offer. Abiomed is a world leader in breakthrough heart, lung and kidney support technologies, and will operate as a standalone business within Johnson & Johnson, which will look to expand the technologies’ reach outside of the United States. Massachusetts-based Abiomed makes Impella, the world’s smallest heart pump, and the Breethe OXY-1 System, a compact cardiopulmonary support system.
S&C assembled a multi-disciplinary team across offices for this blockbuster deal. The New York-based M&A team includes Matthew Hurd, Robert Downes, Miaoting (Mimi) Wu, Elizabeth Pompliano and Bailie Mittman. S&C lawyers from New York, Paris and Brussels are advising on executive compensation, intellectual property, U.S. and French tax, environmental matters, antitrust and global competition.
S&C’s multidisciplinary Healthcare & Life Sciences practice is unrivaled in its ability to deliver best-in-class services to clients of all sizes, from start-ups to investment funds to the largest global healthcare businesses. Recently, we have advised on some of the largest deals in this sphere, including Biohaven Pharmaceuticals’ $11.6 billion acquisition by Pfizer, Baxter International’s $12.4 billion acquisition of Hillrom, multiple major transactions for Philips and Stryker, and Haleon's landmark European listing creating the world's biggest stand-alone consumer health company.
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