Abbott commits to mitral valve disease treatments with two transactions

With two transactions on July 30, Abbott strengthened its structural heart business and emphasized its focus on treatments for mitral valve disease.

Abbott agreed to purchase the remaining equity it didn’t already own in Tendyne Holdings, Inc., a private medical device company. The total transaction value was $250 million, according to a news release.

Tendyne announced in April that it had enrolled the first patient in a feasibility trial evaluating its Bioprosthetic Mitral Valve System, which is being tested for use in patients with symptomatic mitral regurgitation of degenerative or functional etiology. The FDA has not approved the device.

Abbott also said it had provided capital and secured an option to purchase Cephea Valve, a private company developing a catheter-based mitral valve replacement therapy.

Abbott’s MitraClip mitral valve repair device is approved in the U.S, Canada, Europe, Asia and Latin America.