News | Vascular Closure Devices | October 18, 2016

St. Jude Medical, Abbott to Sell Portion of Vascular Closure, EP Businesses to Terumo

The agreement is a step toward completion of Abbott's acquisition of St. Jude Medical, expected to close by year-end

 

angioseal, angio-seal, terumo, St. Jude, vascular closure devices

October 18, 2016 — Abbott and St. Jude Medical Inc. announced today an agreement to sell certain products from their electrophysiology (EP) and vascular closure portfolios to Terumo Corp. The transaction reflects a purchase price of about $1.12 billion and is subject to the successful completion of Abbott's acquisition of St. Jude Medical and antitrust regulatory approvals. 

Read the article “Abbott to Acquire St. Jude Medical,” from April 2016.

The divestiture is an all-cash transaction and will include the products globally for St. Jude Medical's Angio-Seal and Femoseal vascular closure products and Abbott's Vado Steerable Sheath. Abbott will retain its vascular closure products, which include the Perclose ProGlide Suture-Mediated Closure System, StarClose SE Vascular Closure System and Prostar XL Percutaneous Vascular Surgical System. The Angio-Seal product lines offer healthcare providers an alternative to manual compression for sealing puncture sites on patients who have undergone a catheterization procedure.

Abbott’s Vado steerable sheath is used to navigate EP ablation catheter procedures with precision to create continuous, smooth lesions. The sheath is the first design on the market that does not use pull wires for deflection, instead using connected coaxial lumens reinforced with Kevlar to provide stability in all planes. As opposed to traditional pull wire designs, this allows operators to rotate the Vado 360 degrees without torque buildup, which results in catheter whipping.

Following Abbott's acquisition of St. Jude Medical, the combined business will compete in nearly every area of the cardiovascular market and hold top positions in high-growth segments, including atrial fibrillation, structural heart and heart failure, as well as a leading position in the high-growth neuromodulation market. 

Abbott expects to mitigate any impact to its adjusted earnings per share projections related to the sale of these assets to Terumo. Abbott, St. Jude Medical and Terumo are bound by the terms of an exclusivity agreement.

For more information: www.sjm.com, www.abbott.com

Related Content

Tryton Side Branch Stent Recognized With Premier Technology Breakthrough Award
News | Stents Bifurcation| September 21, 2017
September 21, 2017 — Cardinal Health and Tryton Medical Inc.
DISRUPT BTK Study Shows Positive Results With Lithoplasty in Calcified Lesions Below the Knee
News | Peripheral Artery Disease (PAD)| September 20, 2017
Shockwave Medical reported positive results from the DISRUPT BTK Study, which were presented at the annual...
Corindus Announces First Patient Enrolled in PRECISION GRX Registry
News | Robotic Systems| September 18, 2017
September 18, 2017 — Corindus Vascular Robotics Inc.
Two-Year ILLUMENATE Trial Data Demonstrate Efficacy of Stellarex Drug-Coated Balloon
News | Drug-Eluting Balloons| September 18, 2017
Philips announced the two-year results from the ILLUMENATE European randomized clinical trial (EU RCT) demonstrating...
Sentinel Cerebral Protection System Significantly Reduces Stroke and Mortality in TAVR
News | Embolic Protection Devices| September 18, 2017
September 18, 2017 – Claret Medical announced publication of a new study in the...
Fysicon Receives FDA Approval for QMAPP Hemodynamic Monitoring System
Technology | Hemodynamic Monitoring Systems| September 18, 2017
Fysicon announced that it has been granted 510(k) clearance by the U.S. Food and Drug Administration (FDA) for its...
Peter Schneider, M.D. presents late breaking clinical trial results at VIVA 17 in Las Vegas. Panelists (l to r) Krishna Rocha-Singh, M.D., Sean Lyden, M.D., John Kaufman, M.D., Donna Buckley, M.D.

Peter Schneider, M.D. presents late breaking clinical trial results at VIVA 17 in Las Vegas. Panelists (l to r) Krishna Rocha-Singh, M.D., Sean Lyden, M.D., John Kaufman, M.D., Donna Buckley, M.D.

Feature | Cath Lab| September 14, 2017
September 14, 2017 — Here are quick summaries for all the key late-breaking vascular and endovascular clinical trials
Mississippi Surgical and Vascular Center Uses Toshiba Ultimax-i FPD to Save Patients' Limbs
News | Angiography| September 14, 2017
The southern U.S. sees some of the highest numbers of chronic medical conditions, such as peripheral artery disease...
Sponsored Content | Videos | Structural Heart Occluders| September 13, 2017
Ziyad Hijazi, M.D., MPH, MSCAI, FACC, director of the cardiac program and chair of the Department of Pediatrics at Si
Philips Showcases Integrated Vascular Solutions at VIVA 2017
News | Peripheral Artery Disease (PAD)| September 13, 2017
Philips announced its presence at the Vascular Interventional Advances (VIVA 17) Annual Conference in Las Vegas from...
Overlay Init