Abiomed, Inc. ( NASDAQ: ABMD ) is engaged as a medical technology company, which is focused on providing support and resources to improve circulatory and oxygenation. Shares of the medical device company are surging 50% through afternoon trading on Tuesday, November 1, 2022. Over the past three months, Abiomed has seen average daily volume of 283,100 shares. However, volume of 4.63 million shares or dollar volume of around $1.75 billion, has already exchanged hands through afternoon trading. Shares of Abiomed are rallying after the company announced it has entered into a definitive agreement to be acquired by Johnson & Johnson ( NYSE: JNJ ) in an all cash deal valued at $16.6 billion or $380 per share in cash. Abiomed shareholders will also receive a non-tradeable contingent value right (CVR), which entitles the investor to receive an additional $35 per share in cash if certain milestones are met.