The companies will divest two medical device businesses to Japan-based Terumo to settle the FTC’s antitrust concerns. The two device businesses slated for unloading are St. Jude’s vascular closure device and Abbott’s steerable sheath. Abbott said in October the two companies would sell some of their businesses to Terumo for about $1.12 billion, according to the report.
Abbott said acquiring St. Jude Medical will help the company compete with larger companies like Dublin, Ireland-based Medtronic and Marlborough, Mass.-based Boston Scientific, Reuters reports.
More articles on transactions and valuations:
Dignity Health in joint venture discussions with teaching hospital
Rennova Health to acquire shuttered Tennessee hospital
Palmetto Health explores partnership with 2 rural hospitals
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