Abbott Acquires Evalve
To bolster long-term growth across its broad base of businesses through diversification of product portfolios
Abbott has acquired the remaining outstanding equity of Evalve that it did not already own for an upfront payment of $320m, plus a $90m payment if certain regulatory milestones are met. The acquisition is expected to provide Abbott with a better presence in the growing area of non-surgical treatment for structural heart disease.
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.
Evalve's minimally invasive catheter-based MitraClip system is the commercially available treatment option approved in Europe for non-surgical mitral valve repair for patients suffering from the effects of mitral regurgitation.
Robert Hance, senior vice president of vascular at Abbott, said: "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.”
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