Johnson & Johnson (NYSE:JNJ) is looking for M&A. During the company's investor conference call, Joaquin Duato, Chairman and Chief Executive Officer said that ?For Johnson & Johnson, in our effort to create a best-in-class performer in our MedTech business, this is another step in that direction that enables us to extend our reach in cardiovascular, our presence in high-growth markets and provide an end-to-end solution. From that perspective, our M&A strategy and our M&A approach does not change. As you know, we take a well-defined and disciplined approach to capital allocation, and M&A has always been a key component of that.

We have the strength of our cash flow and our balance sheet that gives us significant flexibility in the type of transactions that we can consider. And we will continue to evaluate M&A opportunities agnostic to the sector in the context of improving the three components that I always refer, Larry. Does it improve the standard of care?

Does it enable us to enter into higher-growth markets? And does it provide a compelling financial return? Clearly, in our view, Shockwave checks all the boxes here, plus it does have a high-quality team of people that are very knowledgeable in this space and a great cultural fit with Johnson & Johnson?.