"Evalve's innovative valve repair technology gives us the potential to provide new treatment options for millions of patients with mitral regurgitation around the world," said Robert Hance, senior vice president, vascular, Abbott. "This acquisition complements Abbott's industry-leading pipeline and strong vascular devices portfolio, which currently holds leadership positions in drug eluting and bare metal stent segments."
Abbott acquired the remaining outstanding equity of Evalve that it did not already own for an upfront payment of $320 million, plus a $90 million payment if certain regulatory milestones are met.
The acquisition of Evalve is one of six strategic acquisitions initiated by Abbott in the past 12 months to bolster long-term growth across its broad base of businesses through diversification of product portfolios, addition of new technology and expansion into key global emerging markets.
Abbott is a global, broad-based health care company devoted to the discovery, development, manufacture and marketing of pharmaceuticals and medical products, including nutritionals, devices and diagnostics. The company employs more than 72,000 people and markets its products in more than 130 countries.
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