Abbott in acquiring St. Jude Medical will create a company that is a premier medical device leader. The acquisition will take part in high growth cardiovascular markets, including atrial fibrillation, structural heart and heart failure, as well as become a leader in the high growth neuromodulation market.
St. Jude’s Medical strong positions in heart failure devices, atrial fibrillation, and cardiac rhythm management complements Abbott’s position in coronary intervention and transcatheter mitral repair.
With combined annual sales of about $8.7 billion, Abbott’s cardiovascular business and St Jude Medical will be able to compete in nearly every area of the cardiovascular market and hold the No. 1 or 2 positions across large and high growth cardiovascular device markets.
Several new medical device products expected to be brought to key markets this year includes:
- St. Jude Medical’s EnSite Precision ™ next generation cardiac mapping system used to visualize and navigate catheters in the heart during ablation procedures
- St Jude’s Medical MultiPoint™ Pacing technology to advance quadripolar technology and provides additional options for cardiac resynchronization therapy patients who are not responsive to other pacing options
- St Jude’s Medical Proclaim ™ Elite recharge-free Spinal Cord Stimulation System
- St Jude’s Medical’s Prodigy™ Chronic Pain system used to treat chronic pain
- Abbott’s FreeStyle® Libre, a sensor-based glucose monitoring system for people with diabetes that eliminates routine finger sticks
- Abbott’s Teenis® Symfony a first of its kind continuous range of vision intraocular lens for the treatment of cataracts
- Abbott’s Absorb™ the first bioresorbable coronary stent.
The acquisition has been approved by the boards of both companies and is subject to the approval of St. Jude Medical shareholders and specified regulatory approvals. The transition is expected to close in the fourth quarter of 2016.