Abbott strikes deals with heart valve replacement companies
Abbott Laboratories (ABT.N) on Thursday said it would buy a small private company and has invested in another, with an option to buy, as it places bets on the future growth potential of minimally invasive systems to replace diseased heart valves.
Abbott said it has agreed to acquire the equity in Minnesota-based Tendyne Holdings Inc that it does not already own for $250 million plus future payments tied to regulatory milestones.
In a separate transaction in which financial details were not disclosed, Abbott said it has provided capital and secured an option to purchase California-based Cephea Valve Technologies.
Both private companies are developing systems to replace diseased mitral valves in the heart while sparing patients traditional chest-cracking open-heart surgery.
Neither deal is expected to alter Abbott’s 2015 earnings forecast, the company said.