DOTmed Home MRI Oncology Ultrasound Molecular Imaging X-Ray Cardiology Health IT Business Affairs
News Home Parts & Service Operating Room CT Women's Health Proton Therapy Endoscopy HTMs Mobile Imaging
SEARCH
Current Location:
>
> This Story


Log in or Register to rate this News Story
Forward Printable StoryPrint Comment

 

Business Affairs Homepage

Survey finds medical devices not meeting provider expectations A call for higher-quality clinical evidence, flexible contract options and better customer service

European Society of Radiology calls for diagnostics to be better represented in value-based care Diagnosis 'is the basis for any treatment decision'

GE Healthcare receives Carequality certification Centricity customers can share data among multiple providers

Canon elaborates on financial goals with Toshiba Medical in the fold 'Launching into the global health market ... in one fell swoop'

Former Cleveland Clinic Innovations director pleads guilty to fraud Scheme cost the institution over $2.7 million

NuVasive files lawsuit against former vice chairman Alleges breach of fiduciary duties and violation of contractual obligations

Blue Earth Diagnostics inks Axumin deal with Seibersdorf Laboratories Manufacturing and distribution in certain European countries

Philips to halt production of external defibrillators in two U.S. facilities OEM looks ahead, calling consent decree 'consequence of past sins'

2017 AARC Congress: Focus on COPD For four days in Indianapolis, patients took center stage

Amazon may decide to sell prescription drugs online by Thanksgiving Supply chain and regulatory hurdles could make it more trouble than it's worth

Abbott, St. Jude Medical deal to close, gets regulatory nod

by Thomas Dworetzky , Contributing Reporter
Abbott has set a January 4 closing date for its previously announced St. Jude Medical acquisition, and the deal has now successfully received regulatory approval.

St. Jude Medical will add medical devices, diagnostics, nutritionals and branded generic pharmaceuticals to Abbott's roster of products.

Story Continues Below Advertisement

Inspiring a Better Healthcare System- We are the new Change Healthcare

Last spring the majority of McKesson Technology Solutions and Change Healthcare came together, forming a new health IT company with one focus - inspiring a better healthcare system. Click above to learn more.



"We continue to deliberately shape our business for long-term success by securing leadership positions in attractive markets and focusing on customer needs," said Abbott's chairman and CEO, Miles D. White, in a statement. He noted that adding St. Jude “creates one of the broadest medical device portfolios in the world.”

The deal boosts Abbott's presence in a number of key sectors, including cardiovascular and neuromodulation patient care, by bringing into the fold St. Jude Medical's assets in atrial fibrillation, heart failure, structural heart, and chronic pain arenas. These combine with Abbott's own assets in coronary interventions and mitral valve disease.

“Together, the company will compete in nearly every area of the $30 billion cardiovascular market and hold the No. 1 or 2 positions across large and high-growth cardiovascular device markets,” according to the release.

It is estimated that the combined cardiovascular and neuromodulation portfolio will hit about $8.7 billion in annual sales.

Plans now call for a number of products to come to market in the next few years. That's important, stressed White, because just having the current best solutions is no longer enough. “Customers today want partners who offer breakthrough technologies along with a broad portfolio of solutions to help them better care for their patients," he stated.

The roughly $25 billion deal first came to light in late April, 2016, as HCB News reported at the time. It was driven by the synergy in the cardiovascular arena, but also had positive positioning impact in diabetes, vision, and neuromodulation patient care products.

"Bringing together these two great companies will create a premier medical device business and immediately advance Abbott's strategic and competitive position," White said at the time.

In October, 2016, Abbott and St. Jude Medical announced a $1.2 billion all-cash deal to sell their vascular closure and electrophysiology businesses to Terumo Corporation.

The transaction depends on the successful completion of Abbott's acquisition of St. Jude Medical and antitrust regulatory approvals. Plans call for the sales to Terumo to happen after the St. Jude Medical-Abbott deal finalizes. If that merger doesn't happen then the Terumo deal would be off, the company stated at the time.
  Pages: 1 - 2 >>

Business Affairs Homepage


You Must Be Logged In To Post A Comment

Advertise
Increase Your
Brand Awareness
Auctions + Private Sales
Get The
Best Price
Buy Equipment/Parts
Find The
Lowest Price
Daily News
Read The
Latest News
Directory
Browse All
DOTmed Users
Ethics on DOTmed
View Our
Ethics Program
Gold Parts Vendor Program
Receive PH
Requests
Gold Service Dealer Program
Receive RFP/PS
Requests
Healthcare Providers
See all
HCP Tools
Jobs/Training
Find/Fill
A Job
Parts Hunter +EasyPay
Get Parts
Quotes
Recently Certified
View Recently
Certified Users
Recently Rated
View Recently
Certified Users
Rental Central
Rent Equipment
For Less
Sell Equipment/Parts
Get The
Most Money
Service Technicians Forum
Find Help
And Advice
Simple RFP
Get Equipment
Quotes
Virtual Trade Show
Find Service
For Equipment
Access and use of this site is subject to the terms and conditions of our LEGAL NOTICE & PRIVACY NOTICE
Property of and Proprietary to DOTmed.com, Inc. Copyright ©2001-2017 DOTmed.com, Inc.
ALL RIGHTS RESERVED