Japan's Terumo to buy some medical devices from Abbott and St. Jude Medical for $1.12 bn
18 October 2016
Japanese medical device manufacturer Terumo Corp today struck a deal to buy some medical devices from Abbott Laboratories and St. Jude Medical Inc for a total of $1.12 billion.
The purchase includes St. Jude Medical's Angio-Seal and FemoSeal vascular closure products and Abbott's Vado Steerable Sheath.
The Angio-Seal product lines offer healthcare providers an alternative to manual compression for sealing puncture sites on patients who have undergone a catheterization procedure.
The sale is part of Abbott's plan to get antitrust approval for its $25 billion acquisition of St. Jude Medical (See: Abbott to buy medical device maker St. Jude Medical for $25 bn) Founded in 1976 and based in St. Paul, Minnesota, St Jude Medical, which is named after Jude the Apostle, is a medical device maker focused on six key treatment areas - heart failure, arrhythmias, vascular disease, structural heart, chronic pain, and neurological diseases.
It manufactures implantable cardioverter-defibrillators, pacemakers, electrophysiology catheters; vascular closure products; cardiac mapping and visualization systems, optical coherence tomography imaging systems; structural heart repair products, and neurostimulation devices.
It has over 20 operations and manufacturing facilities worldwide and its products are sold in more than 100 countries.
Its major markets include the US, Europe, Latin America and Asia-Pacific,and has annual sales of around $5.6 billion.
St. Jude Medical's strong positions in heart failure devices, atrial fibrillation and cardiac rhythm management will complement Abbott's leading positions in coronary intervention and transcatheter mitral repair.
Abbott's cardiovascular device unit will have annual sales of $8.7 billion after the business are combined and will hold the No 1 or 2 positions across this market, which is expected to grow to $30 billion.
Terumo is a medical device manufacturer with over $5 billion in sales. It has operations in more than 160 nations, and 21,000 employees worldwide.
Founded in 1921, the Tokyo-based company develops, manufactures and distributes medical devices including products for use in cardiothoracic surgery, interventional procedures and transfusion medicine.
It also manufactures a range of syringe and hypodermic needle products for hospital and physician use.