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

by Thomas Dworetzky, Contributing Reporter | January 03, 2017
Business Affairs Medical Devices

In September, 2016, Abbott Medical Optics went to Johnson & Johnson for $4.325 billion in cash. White noted at that time that the company had “been actively and strategically shaping our portfolio, which has recently focused on developing leadership positions in cardiovascular devices and expanding diagnostics."

Another deal has soured, however. Abbott and Alere are suing each other over their $5.8 billion deal, according to Reuters, which noted that Alere “had failed to file financial statements and disclosed probes into billing and foreign sales practices.”

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Some of the new products heading to market from the combined firms include the just-FDA-approved EnSite Precision, which creates cardiac maps allowing precise guidance of catheters during ablation.

In addition, on the near-term horizon, the ConfirmRx is heading to market. This implantable heart monitor provides for remote arrhythmia detection, diagnosis and treatment.

Also on the way are the HeartMate 3, which is used in advanced-stage heart failure is nearing launch; the Portico Transcatheter Aortic Heart Valve, which combats aortic stenosis; the Proclaim DRG system, used for chronic pain; the novel bioresorbable coronary stent Absorb; and the global rollout of the MitraClip, a transcatheter mitral valve repair device.

By 2020 the company believes that it will reach “annual pre-tax synergies of $500 million.”

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