Updated with comment from Muddy Waters. Abbott (NYSE:ABT) subsidiary St. Jude Medical said today it launched a cybersecurity update for its Merlin@home remote monitoring system designed for use with implantable pacemakers and defibrillator devices. The Little Canada, Minn.-based company said the move was made to “complement the company’s existing measures and further reduce the extremely low […]
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Abbott closes $25B St. Jude buy
Abbott (NYSE:ABT) said today it closed its $25 billion buy of St. Jude Medical (NYSE:STJ), permanently tying up the 2 major medtech players. Under the merger agreement, St. Jude Medical will now be a wholly-owned subsidiary of Abbott, with its last day of trading on the NYSE ending today. “Abbott has a strong track record of successfully integrating […]
Abbott to close $25B St. Jude buy
Abbott (NYSE:ABT) said today that it plans to close its $25 billion buy of St. Jude Medical (NYSE:STJ) next Wednesday, Jan. 4, after receiving all necessary regulatory clearances for the deal. Abbott touted the acquisition, saying it would position the combined entity to cover “nearly every area” of the cardiovascular market, holding onto the number 1 or 2 […]
Abbott’s $25B St. Jude Medical tie-up approved in China
Anti-trust regulators in China today granted conditional approval to the $25 billion tie-up of Abbott (NYSE:ABT) and St. Jude Medical (NYSE:STJ). China’s Ministry of Commerce said the approval is conditioned on the sale of St. Jude’s small vessel closure device business; the companies would have 20 days from the close of their deal to execute the sale of […]
Abbott wins US antitrust approval for $25B St. Jude buy
The US Federal Trade Commission today granted approval to Abbott (NYSE:ABT) to complete its proposed $25 billion acquisition of St. Jude Medical (NYSE:STJ). The approval came with a caveat that the companies divest themselves of 2 cardiovascular medical device businesses – vascular closure devices and “steerable” sheaths. The hurdle shouldn’t be too difficult for the companies, who […]
Report: US regulators poised to clear Abbott’s $25B St. Jude buy
Regulators in the U.S. are positioned to approve Abbott‘s (NYSE:ABT) $25 billion acquisition of St. Jude Medical (NYSE:STJ), according to 2 Reuters sources. The approval from the U.S. Federal Trade Commission could come through as early as this week or the next, according to the Reuters report. The companies were unsure of the conditions necessary for […]
Indian anti-trust regulators approve $25B Abbott-St. Jude Medical tie-up
Anti-trust regulators in India joined their counterparts in the European Union in granting conditional approval for the $25 billion tie-up of Abbott (NYSE:ABT) and St. Jude Medical (NYSE:STJ). In a Dec. 16 Twitter message, the Competition Committee of India said it “approves proposed combination between St Jude Medical and Abbott Laboratories; subject to voluntary remedies.” Although the exact “voluntary remedies” […]
FDA clears St. Jude Medical’s EnSite Precision heart map, Advisor FL catheter
St. Jude Medical (NYSE:STJ) said today that it won 510(k) clearance from the FDA for its EnSite Precision cardiac mapping system and the Advisor FL catheter used with it. The Ensite cardiac mapping system is designed for use in ablation procedures to visualize and aid in catheter navigation in the heart, providing detailed anatomical models and […]
St. Jude Medical wins CE Mark for full-body MRI scans with Proclaim Elite SCS device
St. Jude Medical (NYSE:STJ) said today that it won CE Mark approval in the European Union for full-body MRI scans of patients implanted with its Proclaim Elite spinal cord stimulation device. Little Canada, Minn.-based St. Jude said the MR-conditional label adds to the head and extremity CE Mark Proclaim Elite landed last year. The FDA cleared the […]
Terumo moves forward on $1B deal to pick up St. Jude, Abbott vascular assets
Terumo Corp. (TYO:4543) said today it reached an agreement with Abbott (NYSE:ABT) and St. Jude Medical (NYSE:STJ) to acquire vascular products from both companies in connection to their $25 billion merger. The deal will include St. Jude’s Angio-Seal and FemoSeal vascular closure product lines and Abbott’s Vado steerable sheath. Together, the total annual sales of the businesses are approximately […]
European anti-trust regulators grant conditional approval for Abbott’s $25B St. Jude Medical buy
Anti-trust regulators in the European Union last week granted conditional approval for the $25 billion merger of Abbott (NYSE:ABT) and St. Jude Medical (NYSE:STJ). The European Commission’s decision on the deal requires the divestiture of a pair of device lines: St. Jude must deal its Angio-Seal and Femoseal vascular closure assets, including a manufacturing plant in Puerto Rico, and […]