Abbott Laboratories denied a Financial Times report that it was prepared to bid $25 billion to acquire St. Jude Medical. St. Jude, which is based in Minnesota, declined to comment when contacted by the Minneapolis Star Tribune.
Since 2008, the companies have had an alliance in which they jointly sell U.S. hospitals a portfolio of products in interventional cardiology, cardiac rhythm management, electrophysiology and intravascular imaging and diagnostic technologies.
In July, St. Jude Medical agreed to acquire Thoratec for approximately $3.4 billion to expand its heart failure business.
Executive Editor
Tim Casey joined TriMed Media Group in 2015 as Executive Editor. For the previous four years, he worked as an editor and writer for HMP Communications, primarily focused on covering managed care issues and reporting from medical and health care conferences. He was also a staff reporter at the Sacramento Bee for more than four years covering professional, college and high school sports. He earned his undergraduate degree in psychology from the University of Notre Dame and his MBA degree from Georgetown University.