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Abbott Completes Acquisition of St. Jude Medical

The transaction provides Abbott with expanded opportunities for future growth.

Abbott (No. 14 on the DiversityInc Top 50 Companies list) has announced it has completed the acquisition of St. Jude Medical, Inc., establishing the company as a leader in the medical device arena. The transaction provides Abbott with expanded opportunities for future growth and is an important part of the company's ongoing effort to develop a strong, diverse portfolio of devices, diagnostics, nutritionals and branded generic pharmaceuticals.

"Abbott has a strong track record of successfully integrating dozens of businesses on a global scale and accelerating growth," said Miles D. White, chairman and chief executive officer, Abbott. "The addition of St. Jude Medical strengthens our global medical device leadership while offering innovative products to address more areas of care, in more physicians' offices and hospitals around the world."


Pursuant to the terms of the Merger Agreement, upon completion of the acquisition, St. Jude Medical became a wholly-owned subsidiary of Abbott. As a result of the completion of the acquisition, Jan. 4, 2017, was the last day of trading of St. Jude Medical shares on the New York Stock Exchange.

Strategic Fit

St. Jude Medical's strong positions in fast-growing areas such as atrial fibrillation, heart failure, structural heart and chronic pain complement Abbott's leading positions in coronary interventions and mitral valve disease. Together, the company will compete in nearly every area of the $30 billion cardiovascular market and hold the No. 1 or 2 positions across large and high-growth cardiovascular device markets. This leading combined portfolio will have the depth, breadth, scale and innovation to help patients restore their health, improve outcomes and deliver greater value to customers and payors. Furthermore, the acquisition balances and strengthens the Abbott portfolio, which includes leading positions across all of its four core businesses.

Breakthrough Invention

Abbott will have a powerful pipeline across cardiovascular and neuromodulation patient care ready to deliver next-generation medical technologies and offer improved efficiencies for health care systems around the world. In fact, Abbott will continue to bring numerous new products to key markets during the coming years, including:

  • EnSite Precision (which received U.S. FDA approval last month) next-generation cardiac mapping system to visualize and navigate catheters in the heart during ablation procedures
  • ConfirmRx Implantable Cardiac Monitor to help physicians remotely diagnose and treat the most difficult to detect cardiac arrhythmias
  • HeartMate 3®, which offers physicians more options for patients with advanced stage heart failure
  • Portico Transcatheter Aortic Heart Valves for patients with severe aortic stenosis – the narrowing of the aortic valve that obstructs blood flow from the heart
  • Proclaim DRG system and other stimulation waveform technologies to provide more options for patients with chronic pain
  • Absorb, the world's first bioresorbable coronary stent and MitraClip, the world's first transcatheter mitral-valve repair device in additional countries

"We continue to deliberately shape our business for long-term success by securing leadership positions in attractive markets and focusing on customer needs," said Mr. White. "This philosophy has served as the foundation for significant and sustainable value creation for our shareholders. The addition of St. Jude Medical creates one of the broadest medical device portfolios in the world and provides a steady stream of new technologies and therapies for many years to come."

Read more news @ DiversityInc.com

Abbott: Top Internship for Healthcare and Tech

Interns have spoken: Abbott is the top college internship program for healthcare and tech & engineering.

Originally Published by Abbott.

Abbott recognizes the need to develop its future leaders early, and has been named the top healthcare and tech & engineering internship program by Vault.

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New Study Shows Abbott's Novel Diagnostic Test Could Help Rule Out Heart Attacks Earlier

Preliminary research indicates that a diagnostic test currently in development, that is done at the patient's side in minutes, has similar accuracy to a high-sensitive troponin test for early rule out of a heart attack .

Originally Published by Abbott.

For someone experiencing cardiac symptoms in the emergency room, every minute matters as physicians determine whether someone is having a heart attack. New data, published online in JAMA Cardiology, found a new blood test under development that is done right at the patient's side in as little as 15 minutes could identify nearly three-fifths (56.7 percent) of people at low-risk of experiencing a heart attack, similar to the results of a High Sensitive Troponin-I blood test done in the laboratory setting.

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Abbott: Partnering for a Healthier Future

Abbott supports the First Ladies of Africa in the fight to end AIDS in children and keep mothers healthy.

Originally Published by Abbott.

In countries around the world, Abbott is working across its businesses and in partnerships with others to create healthier futures for families. One example: since 2014, Abbott's diagnostics business has supported the work of the Organization of African First Ladies Against HIV/AIDS (OAFLA – pictured above) to fight the AIDS epidemic in Africa, particularly among pregnant women and children – who are among the most vulnerable populations impacted by the disease.

At an OAFLA meeting on the sidelines of the UN General Assembly in New York City, Abbott and several other organizations are being recognized by OAFLA for longstanding partnership and support, including public-private partnerships that bring together technical, financial and other resources to focus on a global health challenge such as HIV/AIDS.

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Abbott: DRG Stimulator, A Life Changing Technology for Chronic Pain.

The new technological DRG therapy may be the key to easing daily tasks for those with chronic pain.

Originally Published by Abbott.

Living with chronic pain affects not just your body but also your mind. It can make getting around and getting along equally difficult.

But with innovation in health technology comes hope. Abbott has developed a new device found to be more effective than traditional therapy at relieving chronic pain.

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Abbott: Expediting Blood Testing With i-Stat

The portable, handheld i-STAT Alinity delivers quick blood test results anywhere you are.

Originally Published by Abbott.

Every day, countless blood samples are tested all around the world for one purpose: to help diagnose and treat medical conditions. From the couple eagerly awaiting the results of a pregnancy blood test to a worried cancer patient hoping for more answers, diagnostic blood tests give vital insight into what's happening underneath the skin.

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Abbott: Freestyle Libre 14 Day, Now FDA Approved

Abbott's flash glucose monitor now FDA-approved for two weeks of use in U.S. between sensor changes.

Originally Published by Abbott.

The U.S. Food and Drug Administration has approved FreeStyle Libre 14 day— Abbott's revolutionary continuous glucose monitoring system. In the U.S., you can wear the sensor up to 14 days with high accuracy.

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At Abbott, You Look Like An Engineer

Decades before #ILookLikeAnEngineer, Abbott paved the way for a non-profit dedicated to diversity in STEM.

Originally Published by Abbott.

#ILookLikeAnEngineer.

Remember this? A few years ago, a young software engineer was featured in a recruiting advertisement, only to be accused of not being an actual engineer. Frustrated with the assertion, Isis Wenger started a movement to break the stereotype of what an engineer should look like.

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Abbott Receives FDA Approval for Next-Generation MitraClip Device to Treat People with Leaky Heart Valves

MitraClip is the gold-standard minimally invasive alternative to open-heart surgery for people needing mitral valve repair.

Originally Published by Abbott.

Abbott announced it received approval from the U.S. Food and Drug Administration (FDA) for a next-generation version of its leading MitraClip® heart valve repair device used to repair a leaky mitral valve without open-heart surgery. The transcatheter clip-based therapy, now on a third generation of product innovations, has been used to treat more than 65,000 patients worldwide over the last ten years.

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