Abbott Tried To Pull Out Of Alere Deal, But It Remains On For Now
This article was originally published in The Gray Sheet
A disclosure from Alere says Abbott did attempt to terminate its agreement to buy the diagnostics company due to an ongoing federal investigation of Alere, but Abbott has reaffirmed its commitment to the deal.
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Here are some of the highlights (and lowlights) from the second-quarter sales and earnings reports that medical device companies announced last week.
Device companies raised 50% more in Q1 2016 than the previous quarter, reaching $1.8 billion and led by debt offerings; diagnostic imaging acquisitions, such as Toshiba Medical Systems, were abundant. Diagnostics financings double in Q1, mostly from venture funding, including strong showing from liquid biopsy companies.
The previously rumored acquisition was announced on April 28, with the firms touting their extensive synergies in the cardiovascular space.