Abbott, St. Jude Medical agree to sell vascular closure, electrophysiology assets

Abbott and St. Jude Medical announced Oct. 18 that the companies agreed to sell a portion of their vascular closure and electrophysiology business for $1.12 billion to Terumo Corporation.

The deal is subject to successful completion of Abbott’s proposed acquisition of St. Jude Medical, which was announced in April. Abbott agreed to buy St. Jude Medical in a stock and cash deal for approximately $25 billion. The companies said they expect the transaction to be completed by the end of the year.

Terumo Corporation, which is based in Japan, agreed to pay more than $1 billion in cash to acquire St. Jude Medical’s Angio-Seal and Femoseal vascular closure products and Abbott’s Vado steerable sheath. Abbott said it would retain its vascular closure products.

Terumo Corporation’s cardiovascular offerings include access and therapeutic devices, vascular grafts, intravascular imaging systems and cardiopulmonary bypass systems.

This is Abbott’s second divestiture in the past month. On Sept. 16, Abbott agreed to sell its vision care business to Johnson & Johnson for $4.33 billion in cash.

Tim Casey,

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.

Around the web

Eleven medical societies have signed on to a consensus statement aimed at standardizing imaging for suspected cardiovascular infections.

Kate Hanneman, MD, explains why many vendors and hospitals want to lower radiology's impact on the environment. "Taking steps to reduce the carbon footprint in healthcare isn’t just an opportunity," she said. "It’s also a responsibility."

Philips introduced a new CT system at ECR aimed at the rapidly growing cardiac CT market, incorporating numerous AI features to optimize workflow and image quality.

Trimed Popup
Trimed Popup