2023-04-21 16:45:00 ET
Is Shockwave Medical (NASDAQ: SWAV) about to be sold to a well-capitalized peer? Following a media report to that effect, investors certainly seemed to think so. They pushed the medical device maker's share price up by over 10% Friday, providing a sharp contrast to the essentially sideways movement of the S&P 500 index.
Citing unidentified "people with knowledge of the matter," Bloomberg reported Friday morning that Boston Scientific (NYSE: BSX) has expressed interest in acquiring Shockwave.
The two companies certainly have synergy, as both are makers of medical devices. Shockwave designs and sells instruments that perform intravascular lithotripsy (IVL), a process in which sound waves are used to break up the calcium that can harden blood vessels.
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Why Shockwave Medical Stock Blasted More Than 10% Higher on Friday