Abbott acquires St Jude
May 3, 2016
ABBOTT has announced the
acquisition of St. Jude Medical,
creating a “major medical device
company” with top positions
in high-growth cardiovascular
markets, including atrial fibrillation,
structural heart and heart failure
as well as a leading position in the
high-growth neuromodulation
market.
Total transaction equity is valued
at $25 billion and the combined
company will have a pipeline
expected to deliver a steady stream
of new medical device products
across those therapeutic areas.
“Bringing together these two
great companies will create a
premier medical device business
and immediately advance Abbott’s
strategic and competitive position,”
said Miles D. White, Abbott
chairman and ceo.
“The combined business will
have a powerful pipeline ready to
deliver next-generation medical
technologies and offer improved
efficiencies for health care systems
around the world,” he said.
“Today’s announcement is an
exciting next chapter for St. Jude
Medical, bringing together two
industry leaders with a shared
passion for innovation, culture and
patients,” said Michael T. Rousseau,
St. Jude Medical president and ceo.
“Our combined scale will expand
the global reach, competitiveness
and impact of our medical device
innovation for physicians and
hospitals,” he said.
Unlike the Pfizer-Allergan deal
that collapsed, there is no inversion
strategy associated with the deal.
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