Abbott completes acquisition of St Jude Medical

288

Abbott Vascular has completed its acquisition of St Jude Medical. This follows receipt of all regulatory clearances necessary for closing. A company press release states that the transaction establishes Abbott as “a leader in the medical device arena and provides expanded opportunities for future growth”.

According to the press release, the addition of St Jude Medical is “an important part of the company’s ongoing effort to develop a strong, diverse portfolio of devices, diagnostics, nutritionals and branded generic pharmaceuticals”.

Miles D White, chairman and chief executive officer of Abbott, comments: “Abbott has a strong track record of successfully integrating dozens of businesses on a global scale and accelerating growth. The addition of St. Jude Medical strengthens our global medical device leadership while offering innovative products to address more areas of care, in more physicians’ offices and hospitals around the world.”