(Bloomberg) -- Shockwave Medical Inc. is attracting takeover interest from Boston Scientific Corp. as health-care dealmaking starts to rebound, people with knowledge of the matter said.
Boston Scientific has been exploring a potential deal for Shockwave to boost its portfolio of cardiovascular devices, the people said, asking not to be identified because the talks are private. Shares of Shockwave have gained 29% this year, giving the company a market value of about $9.6 billion.
Shockwave shares rose as much as 14% on the news while Boston Scientific stock fell as much as 3.8%.
A deal could rank as one of Boston Scientific’s largest ever acquisitions, potentially trailing only its 2006 purchase of Guidant Corp. for more than $27 billion. Bloomberg News reported last year that Shockwave was working with advisers to study mergers or partnerships with other health-care companies after receiving takeover interest.
Founded by serial medical technology entrepreneur Daniel Hawkins, Shockwave says it’s seeking to change how calcified cardiovascular disease is treated. The Santa Clara, California-based company has a device that uses sound waves to break up calcium deposits in arteries and expand vessels, a method the company says is safer than some currently used procedures.
Boston Scientific, which has a market value of about $76 billion, makes a number of devices and instruments used in cardiac care. Deliberations are ongoing, and there’s no certainty they will lead to a transaction, the people said.
Representatives for Boston Scientific and Shockwave declined to comment.
(Updates with share moves starting in third paragraph)
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