dismiss

Garage Sale Auctions: Over 700 lots are available for a LIMITED TIME ONLY...starting at just $1! Click here to bid now!

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

Three ways providers can improve patient satisfaction with online forms Tips for simplifying a historically tedious process

Strategies for rural health systems to remain competitive in today’s healthcare environment Three tips to help meet unique challenges

Cerner head suggests negative reports about DoD contract may be 'fake news' Suggests competitors may have played role in bad publicity

Study finds ultrasound and mammo have highest no-show rates Missed appointments at imaging facilities make up 3.25 percent of exams

FDA report opposes regulating third-party servicers Evidence for public health concern deemed 'not sufficient'

Change Healthcare, Adobe and Microsoft partner to address patient satisfaction Big names set their attention to a big problem

How SUD reprocessing delivers bigger value to health systems Lowering costs and reducing waste, the market is ripe for growth

Bronwen Taylor AdvaMed congratulates Stryker’s VP on 2018 PwC MedTech ethical leadership award

Device recalls skyrocket by 126 percent in first quarter of 2018 Software accounted for nearly a quarter of all recalls

Imaging equipment leads trend toward hospital outsourcing Increasingly, hospitals are exploring outsourcing services, new survey finds

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

Servicing GE Nuclear Medicine equipment with OEM trained engineers

We offer full service contracts, PM contracts, rapid response, time and material,camera relocation. Nuclear medicine equipment service provider since 1975. Click or call now for more information 800 96 NUMED



"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 ©2001-2018 DOTmed.com, Inc.
ALL RIGHTS RESERVED