Shockwave Medical

What Shockwave Medical does

Shockwave Medical is a medical device company that develops and commercializes Intravascular Lithotripsy (IVL), a catheter-based technology that uses ultrasonic acoustic pressure waves to modify calcified plaque in coronary and peripheral arteries, enabling safer and more effective deployment of balloon catheters and stents in severely hardened vessels. The product portfolio spans coronary IVL catheters (C2, C2+, C2 Aero, C2 Aero Fly), peripheral IVL catheters (E8, Javelin, L6, M5, M5+, S4), supporting generators and connector cables, the investigational Shockwave Reducer coronary sinus reduction device for refractory angina, and the investigational SkyRunner Carotid IVL System. The technology is supported by an extensive clinical evidence program including the DISRUPT CAD I-IV, DISRUPT PAD III, and DISRUPT BTK studies, with additional trials in refractory angina (COSIRA II), carotid disease (SKYWARD IDE), and female-specific outcomes (EMPOWER CAD).

The company sells its devices primarily through direct enterprise field sales to hospitals and cardiac centers serving interventional cardiologists, interventional radiologists, and vascular surgeons in the United States, Europe, and Japan. Pricing is negotiated directly with healthcare institutions and is not publicly disclosed; revenue is generated through hardware sales of catheters and capital equipment. Shockwave Medical was founded in 2009 and is headquartered in Santa Clara, California. In May 2024, Johnson & Johnson completed its acquisition of Shockwave Medical for approximately $13.1 billion, making it a wholly-owned subsidiary within J&J MedTech. Following the acquisition, Shockwave surpassed $1 billion in annual sales with 23% growth in 2025, establishing itself as a blockbuster cardiovascular platform within the J&J portfolio. In May 2026, Rubicon Point Partners acquired the Santa Clara headquarters campus, which remains fully leased to Shockwave under a triple-net arrangement.

Name

Shockwave Medical

Legal name

Shockwave Medical, Inc.

Website

https://shockwavemedical.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Shockwave Medical develops and sells Intravascular Lithotripsy (IVL) catheters and generators that use ultrasonic pressure waves to treat calcified coronary and peripheral artery disease, serving interventional cardiologists, vascular surgeons, and hospitals globally. A wholly-owned J&J MedTech subsidiary since May 2024.

Ownership category

akta.pro rank

Product category

Intravascular Lithotripsy (IVL) Cardiovascular Devices

NAICS

Electromedical and Electrotherapeutic Apparatus Manufacturing (334510), Surgical and Medical Instrument Manufacturing (339112)

SIC

Surgical & Medical Instruments & Apparatus (3841), Electromedical & Electrotherapeutic Apparatus (3845)

akta.pro primary industry

Interventional Cardiology (PCI/Structural Heart) (HLAKABAB)

akta.pro secondary industry

Thrombectomy, Embolic Protection & Stroke Intervention Devices (HLAHAFAJ)

Keywords

• Intravascular lithotripsy devices
• Coronary artery disease treatment
• Peripheral artery disease treatment
• Calcified plaque modification
• Cardiovascular medical devices

Headquarters

HQ city

Fremont

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Supply Chain, Marketing or Sales, Operations

Revenue model

1. Medical Device Sales: Shockwave Medical generates revenue through the sale of its intravascular lithotripsy (IVL) devices and generators to hospitals and healthcare providers. The company reported preliminary FY 2022 revenues of around $490 million and projected FY 2023 revenues of $660-$680 million. Post-acquisition by J&J, the business surpassed $1 billion in annual sales.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

Shockwave Medical develops, manufactures, and commercializes Intravascular Lithotripsy (IVL) devices — including coronary and peripheral IVL catheters, an IVL generator, connector cable, and investigational Reducer and SkyRunner systems — that use ultrasonic acoustic pressure waves to safely modify calcified plaque in cardiovascular arteries. These products are sold to hospitals, cardiac catheterization labs, and interventional specialists for the treatment of severely calcified coronary and peripheral artery disease, as well as refractory angina (under investigation in the US).

Product overview

Shockwave Medical pioneered the Shockwave Intravascular Lithotripsy (IVL) system, a transformative platform technology that uses ultrasonic acoustic pressure waves to safely modify calcified plaque in cardiovascular arteries. The product portfolio centers on two main device categories: Coronary IVL (Shockwave C2, C2+, C2 Aero, C2 Aero Fly) and Peripheral IVL (Shockwave E8, Javelin, L6, M5, M5+, S4), supported by the IVL Generator and Connector Cable. The system enables balloon catheters and stents to work effectively in severely hardened arteries where traditional interventions posed high risks. Additionally, the company is developing the Shockwave Reducer (investigational in US/Canada) for refractory angina treatment. Shockwave Medical operates as a wholly owned subsidiary of Johnson & Johnson MedTech following the $13.1 billion acquisition completed in May 2024.

Differentiator

Problem solved

Functional benefit

Brands

• Shockwave IVL (Intravascular Lithotripsy): The company's core technology platform using ultrasonic acoustic pressure waves to modify calcified plaque in coronary and peripheral arteries
• Shockwave C2
• Shockwave C2 Aero
• Shockwave E8
• Shockwave Javelin
• Shockwave SkyRunner Carotid IVL System
• Shockwave Reducer

Products and services

• Shockwave C2 Coronary IVL Catheter Coronary intravascular lithotripsy catheter designed to modify calcified plaque in coronary arteries using ultrasonic acoustic pressure waves, enabling effective balloon and stent deployment in severely calcified lesions. For use by interventional cardiologists in hospital catheterization labs.
• Shockwave C2+ Coronary IVL Catheter Enhanced coronary IVL catheter with improved deliverability for treating calcified coronary artery disease.
• Shockwave C2 Aero Coronary IVL Catheter Next-generation coronary IVL catheter featuring enhanced deliverability through tortuous arteries, tapered tip design, hydrophilic coating for improved lesion crossing, and bidirectional repositioning capabilities. Available in the United States and Japan with rollout to Europe and Canada following.
• Shockwave C2 Aero Fly Coronary IVL Catheter Coronary IVL catheter variant with fly design characteristics for enhanced procedural navigation during PCI in calcified coronary arteries.
• Shockwave E8 Peripheral IVL Catheter Peripheral intravascular lithotripsy catheter designed for treatment of calcified peripheral artery disease, particularly in larger vessel diameters.
• Shockwave Javelin Peripheral IVL Catheter Peripheral IVL catheter designed to treat difficult-to-cross calcified lesions in peripheral arteries, featuring an enhanced crossing profile for challenging peripheral anatomy.
• Shockwave L6 Peripheral IVL Catheter Peripheral IVL catheter for treating calcified lesions in larger peripheral vessels.
• Shockwave M5 Peripheral IVL Catheter Peripheral IVL catheter system for treating calcified peripheral artery disease.
• Shockwave M5+ Peripheral IVL Catheter Enhanced version of the Shockwave M5 peripheral IVL catheter for treating calcified peripheral artery disease.
• Shockwave S4 Peripheral IVL Catheter Peripheral IVL catheter for treating calcified lesions in smaller peripheral vessels.
• Shockwave IVL Generator Generator system that powers Shockwave IVL catheters by delivering the electrical signals that produce ultrasonic acoustic pressure waves for calcium modification in coronary and peripheral arteries. Sold to hospitals as part of the IVL capital equipment footprint.
• IVL Connector Cable Connecting cable that links the Shockwave IVL generator to the IVL catheter for energy delivery during procedures.
• Shockwave Reducer (Rejuvenator System) Coronary sinus reduction device designed to treat refractory angina by reducing pressure in the coronary sinus. Investigational in the United States and Canada; available in select international geographies. For use by interventional cardiologists treating patients with chronic refractory angina.
• Shockwave SkyRunner Carotid IVL System Investigational carotid intravascular lithotripsy system designed to treat calcified carotid arteries prior to stenting. Features rapid exchange capability and tailored sizing for carotid procedures. Currently in the SKYWARD IDE clinical program enrolling up to 320 subjects across 50 US sites.

Quantifiable outcome

• 23% growth post-acquisition by J&J
• +3 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Neovasc Inc.minorStrategic or Co-development Partner · 11 April 2023Shockwave Medical completed acquisition of Neovasc Inc. for approximately $100 million, including the Rejuvenator/Reducer System designed to treat refractory angina. The deal involved cash payment and potential deferred payments based on regulatory milestones, with Neovasc's shares being delisted from stock exchanges.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Boston Scientific: Major cardiovascular device incumbent; acquired Bolt Medical to enter the IVL category, directly challenging Shockwave's coronary and peripheral IVL franchises with a much larger commercial footprint.
• Abbott Vascular: Large incumbent in coronary and peripheral intervention; acquired Cardiovascular Systems Inc. (CSI) to add orbital atherectomy for calcium modification, a directly competing calcium-treatment modality.
• Medtronic: Global medtech incumbent with significant coronary and peripheral vascular device franchises; offers atherectomy, specialty balloons, and stents that overlap with Shockwave's procedural adjacency.

Regional players

• AngioDynamics: Peripheral vascular and thrombectomy device company with overlapping peripheral intervention customer base, particularly in hospital and outpatient settings.

Direct peers

• Penumbra: Specialist in peripheral vascular and thrombectomy interventions, with a growing footprint in treating complex PAD — overlapping with Shockwave's peripheral IVL and below-the-knee indications.
• Silk Road Medical: Focused on carotid artery stenting (TCAR); directly comparable to Shockwave's emerging SkyRunner Carotid IVL program as the carotid indication expands.
• Cardiovascular Systems Inc. (CSI / Abbott): Pioneer of orbital atherectomy for treating calcified coronary and peripheral lesions; now part of Abbott, it is the most direct mechanistic competitor to Shockwave IVL in calcium modification.

Emerging players

• Recor Medical: Developer of ultrasound-based renal denervation therapy; shares Shockwave's use of acoustic energy in vascular applications, making it thematically comparable in modality, if not in indication.
• Reflow Medical: Developer of specialty peripheral vascular devices including dedicated tools for calcified lesions; a smaller, emerging competitor with overlapping peripheral IVL-adjacent use cases.
• LimFlow SA: Focused on below-the-knee and chronic limb-threatening ischemia interventions, directly adjacent to Shockwave's DISRUPT BTK clinical program and peripheral IVL use cases.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/ShockwaveIVL
• YouTubeyoutube.com/channel/UCaQIE8HPSKgeYJ8KmXSJTAA
• Facebookfacebook.com/ShockwaveMedical
• LinkedInlinkedin.com/company/shockwave-medical
• Instagraminstagram.com/shockwavemedical

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries1 record

Funding overview

Funding rounds6 records

Investors9 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shockwave Medical