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Latest News

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

The Conversation

NEW COVERAGE DECISION EXTENDS ABBOTT'S INNOVATIVE PAIN THERAPY OPTION TO 22 MILLION AMERICANS LIVING WITH CHRONIC PAIN

Abbott is the only company in the world with FDA and CE Mark approval to offer dorsal root ganglion (DRG) neurostimulation therapy to treat complex nerve pain conditions.

Originally Published by Abbott.

Abbott announced a new national coverage determination for the company's dorsal root ganglion (DRG) neurostimulation pain therapy through Aetna®, a leading health benefits company in the United States. With this coverage decision, Aetna will provide more than 22 million medical plan members with access to Abbott's DRG therapy for people with 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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​Abbott Announces Freedom 2 Save Program For Employees To Address Student Debt

Two-thirds of millennials aren't saving for retirement; benefit means student debt won't prevent retirement savings.

Originally Published by Abbott.

Historic levels of student debt have forced many people to choose between saving for their futures and paying off school loans. Abbott announced a groundbreaking program that addresses the student debt crisis and changes that math.

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Abbott: Connected Devices Turn Data Into Better Health

Abbott's Robert Ford Joins a Panel Discussing the Potential for Connected Medical Devices to Improve Patient Care and Drive Better Outcomes.

Originally Published by Abbott.

Today's medical devices are creating terabytes of information that gives patients, doctors and health providers real-time insight into someone's vital statistics, heart health and even bloodwork.

But can all this new information really make someone healthier?

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Abbott Introduces the Afinion™ 2 Analyzer Rapid Test System for Diabetes Management

State-of-the-art multi-assay test system helps people with diabetes get the HbA1c results they need within three minutes — allowing more time for consultation and care during a single healthcare visit.

Originally Published by Abbott.

Abbott announced the launch of its Afinion™ 2 analyzer in the U.S., the newest generation of the Afinion test system. The Afinion 2 builds on Abbott's heritage in diabetes care by empowering patients with information about their health that they can discuss with their providers during a single visit.

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Abbott's Xience Sierra Heart Stent Receives National Reimbursement in Japan to Treat People with Coronary Artery Disease

Coronary artery disease is the most common form of heart disease, which is the second leading cause of death in Japan.

Originally Published by Abbott.

Abbott announced that Japan's Ministry of Health Labour and Welfare (MHLW) granted national reimbursement for XIENCE Sierra™, the newest generation of the company's gold-standard XIENCE everolimus-eluting coronary stent. XIENCE Sierra improves upon previous versions of XIENCE with an enhanced stent design, a new delivery system, and unique sizes to help doctors treat challenging cases.

XIENCE Sierra was designed to help doctors more easily treat people with difficult-to-treat blockages that involve multiple or totally blocked arteries or complications such as diabetes. Complex cases are increasingly prevalent as people with coronary artery disease are living longer.

"Extensive clinical data and 10 years of real-world experience with the XIENCE family of stents provide doctors with confidence that they are treating their patients with one of the safest stents available," said Chuck Brynelsen, senior vice president of Abbott's vascular business. "National reimbursement of XIENCE Sierra will provide people in Japan with greater access to this life-changing technology that can help them live their best lives."

Coronary artery disease is the most common form of heart disease, which is the second leading cause of death in Japan. National reimbursement in Japan will enable doctors to treat more patients with XIENCE Sierra through the country's health insurance plans. XIENCE Sierra was approved in Japan on April 4, 2018, received CE Mark in Europe late last year, and is under review with the U.S. Food and Drug Administration.

XIENCE has been studied in over 100 clinical trials and in 10 years of global real-world experience. Its safety profile is unprecedented with consistent low rates of stent thrombosis, even in complex cases. More than eight million people worldwide have received a XIENCE stent since its initial regulatory approval.