Source: Siyu MedTech; Editor: Sophia
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April 11, 2024Shockwave Medical(Nasdaq: SWAV) announced inCosta RicaOpened a newIntravascular Lithotripsy (IVL) Technology Production Plant. Not long ago, on April 5, Johnson & Johnson had just officially announced the acquisition of the company.
#The First Factory Outside the United States
The company posted on LinkedIn to share the news."We are delighted to celebrate the grand opening of ShockwaveIVL's production facility located in San José, Costa Rica!"OurCEO Doug GodshallAndPresident of the Republic of Costa Rica, Rodrigo Chaves Robles"Attended this significant event."President Rodrigo Chaves RoblesAccording to local news media La Republica, the company's total investment in Costa Rica will reach 40 million US dollars by 2028.The report also mentioned that this is the first factory Shockwave Medical has built outside the United States, with plans to hire 1,200 employees at the facility over the next three years.The new factory not only enhances production capacity but also contributes to the local economy. The company recognizes Costa Rica's talent and favorable business environment, which is part of its decision to operate in Costa Rica.Currently, Shockwave Medical has established direct sales points in the United States, Germany, Austria, and Switzerland.
And has established an extensive distributor network in over 50 countries across North and South America, Europe, the Middle East, Asia, Africa, and Australia.
This newly built production factory marksShockwave MedicalAnother recent positive development: the company agreed last week to be acquired by Johnson & Johnson for $13.1 billion.# About Shockwave MedicalUnited StatesShockWave Medical was founded in the United States in 2009 and listed on NASDAQ in April 2019.Is globalThe first company to launch a shockwave balloon.Shockwave Medical's Shockwave Balloon has been approved for marketing by the U.S. FDA inEurope, parts of AsiaApproved, and launched in China in 2022 following NMPA approval.Currently, the Chinese shock wave balloon market is dominated by Shockwave Medical, whose products were the first to receive certification from the regulatory authorities and have been distributed in collaboration with local medical product companies ——GynMedCooperation, the supply capacity for the domestic market is gradually increasing.
The latest report shows that the company's annual revenue reached 490 million U.S. dollars, approximately 3.5 billion RMB, and it climbed 11 positions to rank in the top 100 annual medical technology list.#88。
In terms of stock price, the company's stock price has long since doubled, far exceeding the price at its initial public offering.All along,Shockwave Medical has become the acquisition target of many leading enterprises.
Earlier last year, media reports claimed that,Johnson & Johnson, Medtronic, and Boston ScientificAre all potential bidders.
For example, in April last year, Boston Scientific showed a strong interest in acquiring Shockwave Medical.
UntilU.S. time April 5, 2024,Johnson & Johnson announced that it has agreed to acquire Shockwave Medical for approximately $13.1 billion (approximately RMB 94.8 billion).
So,Why Has ShockWave Medical, a Young Company Listed for Less Than 5 Years, Attracted Bids from Several Industry Giants?
# Intravascular Lithotripsy（Intravascular Lithotripsy , IVL）Shockwave MedicalFocused on treating calcified lesions in the cardiovascular system,Coronary Artery CalcificationIt is the key and difficult point of coronary intervention treatment, with a low penetration rate of therapeutic surgery.Percutaneous Coronary Intervention (PCI) andCoronary Rotational Atherectomy (RA) TechnologyIt is one of the most classic treatment methods currently available for calcified lesions.But due toThe operation is difficult, the surgery time is long, and it may cause damage to the vascular intima.Only applicable to mild/moderate calcification, with no selectivity for vascular wall damage.And as a new technology for treating calcified lesions,Shockwave Balloon CatheterIVLwhich breaks through the limitations of traditional methods.
Intraoperative UseShockwave EmitterGeneratePulsed Shockwave，Help traverse calcified lesions and break down superficial and deep calcified structures, thereby enhancing the ability of balloon catheters to disrupt calcified structures.At the same timeAvoid damaging the vascular endothelium / intima, thereby reducing the occurrence of postoperative complications.Advantages:
Improve the Success Rate of PCI Surgery:High-intensity sound waves penetrate the blood vessel walls,Calcified PlaqueBroken into small enough particles, which can then be carried away by the bloodstream or remain inside the vascular wall without further affecting blood flow.
Reduce Surgical Complications:By breaking up calcified plaques, the pressure on the vessel wall during angioplasty is reduced, thereby lowering the risk of vascular injury and complications.
Simple surgical operation:Shockwave IVL Operation ProcessSimilar to traditional PCI procedures, easy for cardiovascular interventional doctors to master and apply.
The company provides the M5 catheter for treating above-the-knee peripheral artery disease, the C2 catheter for treating coronary artery disease, and the S4 catheter for treating below-the-knee peripheral artery disease.
In 2018,Catheter for treating peripheral artery calcification lesions receives European CE and U.S. FDA approval;
The catheter for treating coronary artery calcification lesions received European CE approval in 2018 and U.S. FDA approval in 2021.
# IVL Track Holds Huge Potential, Giants Are Actively Investing
Besides Johnson & Johnson, Abbott has also entered the vascular calcification market.At the end of April last year, Abbott announced on its official website that it hadInvesting 6.1 billion yuanCompletion of Cardiovascular CompaniesCardiovascular Systems(hereinafter referred to as CSI) acquisition.And it is precisely ShockWave's competitor, CSI possessesInnovative Technology for Treating Complex Arterial Diseases。Under its umbrellaDiamondback 360 Series ProductsIt is also a vascular calcification rotational atherectomy system, a handheld, catheter-based medical device used for rotational atherectomy procedures.From Johnson & Johnson, Boston Scientific, Medtronic to Abbott, it is obvious that IVL has attracted the layout of many international cardiovascular giants.And according to Frost & Sullivan data, by 2030 for coronary artery diseaseGlobal IVL Market SizeWill reach$3.347 billion。In contrast, the IVL market potential in China is also significant. By 2025,Coronary Artery Disease in ChinaThe potential IVL market is expected to reach 918 million yuan.，Will increase to by 2030RMB 4.575 billion。In China, such asHuihe Medical, Lepu Medical, Peijia Medical, Saihe MedicalCompanies have also begun to layout the IVL track and made positive progress.
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Global Leading Medical Device Companies | Dynamic CollectionChina Medical Device Listed Companies | Dynamic CollectionEditor-in-Chief | Zhao Qing Reviewed by | Yi He
