Johnson & Johnson ($JNJ (+3,17%) ) is probably in M&A negotiations for the medical device manufacturer Shockwave Medical ($SWAV ) for market shares in the cardiovascular devices to expand.

Shockwaveproduces devices for the treatment of heart disease. Shockwave's devices use shockwaves to break down calcified plaque in heart vessels, similar to the treatment of kidney stones.

Bloomberg News reported last year that Boston Scientific ($n/a ) was considering an acquisition of Shockwave was being considered.