Abbott Unit Aims To Settle Investor Suit
Thoratec has agreed with plaintiffs to pay $12m to settle a lawsuit alleging the company hid negative information about the company’s heart pump, thus keeping share prices artificially high. A hearing is scheduled on the settlement for next month.
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The Rumors Were True: Abbott Buys St. Jude For $25b To Create Third Cardiovascular Giant
Abbott Laboratories has agreed to acquire St. Jude Medical for $25bn, creating a third player, along with Boston Scientific and Medtronic, that competes in all major sectors of the cardiovascular device business.
VADs Set To Enter Big Leagues With St. Jude's Plan To Acquire Thoratec
St. Jude Medical says it will pay $3.4 billion to own ventricular-assist device leader Thoratec, pointing to significant synergies in the heart failure and interventional cardiology markets. The deal would thrust VADs into a diversified cardiology firm for the first time, and it includes a "go-shop" period that leaves an opening for other big device firms to enter competing bids.
Could Thoratec lose out after blood clot link?
Thoratec’s market leading left ventricular assist device (LVAD) HeartMate II has been linked with an increase in blood clots in a recent study – potentially opening the heart pump field up to smaller rivals with next-generation devices.