Shockwave Medical shares rally on report of takeover interest from Boston Scientific

Cardiovascular medical device company Shockwave Medical (NASDAQ:SWAV) is drawing takeover interest from Boston Scientific (NYSE:BSX), Bloomberg reported Friday, citing people with knowledge of the situation.

With healthcare dealmaking beginning to rebound, Bloomberg said its sources told them Boston Scientific has been assessing a potential deal for Shockwave to expand its portfolio of cardiovascular devices.

SWAV shares have surged 9% on the news, trading above the $282 mark. The stock is up over 33% in 2023.

A deal to acquire SWAV could be one of Boston Scientific’s largest ever acquisitions, the publication stated. It was reported last year that after it received takeover interest, SWAV began working with advisers to assess potential mergers or partnerships with other healthcare firms.

Sources told Bloomberg that deliberations are ongoing, but there is no certainty they will lead to a deal.

Boston Scientific shares are down around 2% Friday, trading at $51.49 per share. However, it is up 11% so far this year.