Abbott (NYSE:ABT) closed the $310 million acquisition of Texas-based IDEV Technologies and its self-expanding stent for peripheral artery disease.
IDEV’s Super Veritas stent is already on the market in Europe and under pre-market approval review in the U.S., Abbott said.
In Europe, IDEV’s Supera Veritas stent is indicated to clear blood vessel blockages from PAD. The self-expanding stent attempts to replicate natural body movement for more flexibility in the treated area while maintaining blood flow, according to a press release.
In the U.S., the device is cleared to treat cancer-related bile duct strictures. The FDA is reviewing a PMA for a femoral artery treatment, Abbott said. The Chicago-area device giant touts the $310 million buyout as a strategic expansion of its global peripheral technology portfolio.
Abbott announced the planned acquisition of IDEV last month, alongside news of its $400 million acquisition of OptiMedica, which closed earlier this week.
