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December 7, 2016
Terumo Signs Agreement to Acquire Certain Assets of St. Jude Medical and Abbott
December 7, 2016—Terumo Corporation announced that it has reached an agreement with Abbott and St. Jude Medical, Inc. to acquire certain products owned by both companies for a total of $1.12 billion. This agreement is based on the agreement in principle that was announced by the companies in October 2016.
Terumo will acquire the assets and liabilities related to St. Jude Medical's Angio-Seal and FemoSeal vascular closure products and the stock of Kalila Medical, Inc., an affiliate company of Abbott, which manufactures Abbott's Vado steerable sheath. The total annual sales of the businesses to be acquired is approximately $268 million.
According to Terumo, the acquisition builds on the company's existing infrastructure and competencies and will enable it to maximize the value of the acquired businesses and contribute to supporting safe and efficient interventional procedures. Terumo supplies a range of interventional access devices, including introducer sheaths and guidewires.
The acquisition remains subject to antitrust regulatory approvals and successful completion of Abbott’s proposed acquisition of St. Jude Medical, advised Terumo.
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