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US: Abbott wins antitrust approval for St. Jude $25 billion acquisition

By  |  January 1, 2017

Healthcare company Abbott Laboratories has won US antitrust approval for its proposed $25 billion acquisition of medical device maker St. Jude Medical, the US Federal Trade Commission said on Tuesday.

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    Abbott agreed to divest two medical devices used in cardiovascular procedures to resolve FTC concerns the acquisition would stifle competition, the commission said in a statement.

    “We continue to work to obtain final regulatory approvals and anticipate closing before the end of the year or shortly thereafter,” Abbott spokeswoman Elissa Maurer said in an email.

    The company will sell St. Jude’s vascular closure device and Abbott’s steerable sheath to Japan-based Terumo. In October, Abbott said the companies would sell some of their medical device businesses to Terumo for about $1.12 billion as a step toward completing the deal.

    Vascular closure devices are used to seal small holes made in an artery to prevent bleeding following a coronary angiogram, a special x-ray to see if coronary arteries are blocked or narrowed. Steerable sheaths are used to help place catheters into the heart.

    Full Content: USA Today

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