Abbott to acquire St Jude Medical

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Abbott Logo (PRNewsFoto/Abbott)

Abbott and St Jude Medical have announced today a definitive agreement for Abbott to acquire St Jude Medical.

Under the agreement, St Jude Medical shareholders will receive US$46.75 in cash and 0.8708 shares of Abbott common stock, representing total consideration of approximately US$85 per share. At an Abbott stock price of US$43.93, this represents a total transaction equity value of US$25bn. The combined company will have an industry-leading pipeline expected to deliver a steady stream of new medical device products across cardiovascular, diabetes, vision and neuromodulation patient care.

St Jude Medical’s strong positions in heart failure devices, atrial fibrillation and cardiac rhythm management complement Abbott’s leading positions in coronary intervention and transcatheter mitral repair.

“The combined business will have a powerful pipeline ready to deliver next-generation medical technologies and offer improved efficiencies for health care systems around the world,” said Miles D White, chairman and chief executive officer, Abbott.