Acquisitions · Medical devices (vascular closure)
Terumo buys vascular closure devices from St. Jude Medical and Abbott for $1.12 billion
- Buyer
- Terumo (Tokyo)
- Target
- Angio-Seal and FemoSeal (St. Jude Medical) and Kalila Medical (Abbott), St. Paul, Minnesota
- Value
- $1.12B
- Status
- Agreed in principle on October 18, 2016; definitive agreement on December 7, 2016; completed on January 20, 2017.
- Date
- 2016-10-18
Terumo agreed to buy St. Jude Medical's Angio-Seal and FemoSeal vascular closure products and Abbott's Kalila Medical, maker of the Vado steerable sheath, for $1.12 billion. Abbott and St. Jude sold the products to address antitrust concerns over Abbott's acquisition of St. Jude.
Why it matters
The deal lets Terumo offer devices that close the artery after catheter treatment alongside the access products it already sells, widening its range for heart procedures.
An antitrust remedy
The sale was tied to Abbott's pending purchase of St. Jude Medical and was subject to antitrust review. Under the definitive agreement signed in December 2016, Terumo took on the assets and liabilities of the Angio-Seal and FemoSeal products and the shares of Kalila Medical, the Abbott affiliate that makes the Vado sheath.
Size of the business
The businesses Terumo acquired had total annual sales of about $268 million. Angio-Seal and FemoSeal close the puncture in the femoral artery after catheter procedures, and the Vado sheath is used to guide devices inside the heart.
Sources
Kakehashi M&A News home
