Abbott to Acquire St. Jude Medical
Abbott Park, IL — Abbott announced recently that it intends to close on the acquisition of St. Jude Medical, Inc. The addition of St. Jude Medical is a part of the company’s ongoing effort to develop a strong, diverse portfolio of devices, diagnostics, nutritionals and branded genetic pharmaceuticals.
“We continue to deliberately shape our business for long-term success by securing leadership positions in attractive markets and focusing on customer needs,” said Miles D. White, chairman and chief executive officer of Abbott. “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.”
According to a recent press release regarding the deal, Abbott believes that the acquisition of St. Jude is beneficial because St. Jude’s strong position in areas like atrial fibrillation, and structural heart and chronic pain compliment their own positions in coronary interventions and mitral valve disease. Together, Abbot believes that they will be able to be competitive in every area of the cardiovascular market.
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