Abbott Laboratories and St. Jude Medical Inc. will divest some of their cardiovascular products to Terumo Corp. for $1.12 billion in order to complete the $25 billion deal between the two medical device giants.
The all-cash transaction is conditioned on Abbott’s successful acquisition of St. Jude and antitrust regulatory approval, the companies said Tuesday in a statement. The sale includes St. Jude’s Angio-Seal and Femoseal vascular-closure products, and Abbott’s Vado Steerable Sheath, the companies said.
Terumo, a medical equipment maker based in Japan, markets and sells products in the US, Europe and Asia. Abbott and St. Jude announced their merger valued at $25 billion in April and have said it’s expected to close by the end of the year. The sale was made to “satisfy regulatory review,” according to Candace Steele Flippin, a spokeswoman for St. Jude.
Abbott will retain its vascular-closure products, and doesn’t expect the sale to have a major impact on its earnings, according to the statement.
Full Content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletterr for more headlines and updates on antitrust developments around the world.
Featured News
Chamber of Commerce Sues to Overturn FTC Non-Compete Ban
Apr 24, 2024 by
CPI
FTC Chief Warns of Healthcare Price Fixing Risks Amid Tech Advancements
Apr 24, 2024 by
CPI
Amazon’s Investment in Anthropic Faces Antitrust Scrutiny
Apr 24, 2024 by
CPI
Italian Antitrust Authority Fines Amazon €10 Million for Unfair Trade Practices
Apr 24, 2024 by
CPI
Tuta Mail Raises Alarm Over Google Search Ranking Plunge Amidst DMA Rollout
Apr 24, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI