On January 17, 2023, Shockwave Medical, Inc., a pioneer in Intravascular Lithotripsy (IVL) for treating calcified cardiovascular disease, announced its definitive agreement to acquire Neovasc Inc., a company specializing in the minimally invasive treatment of refractory angina using its groundbreaking Neovasc Reducer System. Refractory angina, unmanageable by conventional means, affects hundreds of thousands in the U.S. and E.U. yearly. The Reducer has received the Breakthrough Device designation from the FDA and is currently undergoing the COSIRA-II randomized clinical trial. Shockwave's acquisition terms included purchasing all Neovasc shares at $27.25 per share, amounting to a transaction value of approximately $100 million. Additionally, Neovasc shareholders could receive up to an extra $12 per share based on the achievement of specific regulatory milestones. This deal represented a premium over Neovasc's stock price as of January 13, 2023. The acquisition was approved by Neovasc's Board of Directors and set to be finalized in the first half of 2023 under the Canada Business Corporations Act. By April 11, 2023, Shockwave confirmed the completion of the Neovasc acquisition. Post-acquisition, Neovasc’s shares would be delisted from both the Toronto Stock Exchange and Nasdaq. Furthermore, there are provisions related to the Israeli Income Tax Ordinance that shareholders must heed to receive their payouts without tax withholdings. Both companies anticipate this merger to significantly benefit patients with refractory angina, addressing a vast unmet need within cardiology. Legal and financial advisors were actively involved in the transaction process, ensuring its fairness and compliance with necessary regulations.