No Surprise As Abbott Cuts Loose Angio-Seal, Femoseal To Terumo
Abbott and St. Jude Medical are to lighten their cardiovascular portfolios – and hopefully facilitate the completion of Abbott's pending $25bn acquisition of St. Jude – by selling three product lines to Terumo. Two of the three product lines to be divested come as little surprise, but one product was acquired by Abbott only earlier this year.
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Medtech companies raised $2.4 billion in the fourth quarter, the second-strongest of the year; Q4 device M&A deals totaled $9 billion in value, led by Allergan's $2.9 billion buy of Acelity's LifeCell division. Diagnostics financings finished out the year at $721 million, an increase over the previous quarter and 2016's second-highest quarter, but diagnostics M&A activity was the lowest of the year at $87 million, with only two completed acquisitions.
Abbott has scored US FTC antitrust approval for its proposed $25bn acquisition of St. Jude. The approval comes with two conditions: that Abbott divests the vascular closure device and steerable sheath businesses to Terumo, and that it notifies the FTC if it intends to acquire lesion-assessing ablation catheter assets from Advanced Cardiac Therapeutics.
The number of medical device approvals reported outside the US rebounded in November after a very slow October. There were 14 CE marks, three approvals in Japan, and three in Canada last month, covering nine different product categories.