J&J to Buy Heart-Pump Maker Abiomed for $17.3 Billion (Correct)

Johnson & Johnson, one of the world’s biggest makers of medical devices, said it will purchase Abiomed Inc. for about $17.3 billion, building on its portfolio of technology to assist heart function.

J&J will pay $380 a share in cash, according to a statement Tuesday. That represents a premium of about 50% over Abiomed’s closing price on Monday and is close to the stock’s 52-week high in November 2021. Abiomed shareholders will also receive as much as $35 a share in additional cash if certain goals are achieved, the companies said.

J&J is planning to spin off its consumer ...