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Abbott to Acquire Evalve, Inc., a Leader in Minimally Invasive Cardiac Valve Repair Technology.

Publication: PR Newswire
Publication Date: 10-SEP-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Acquisition Expands Vascular Portfolio, Provides Abbott with Global Leadership Position in Non-Surgical Treatment Option for Structural Heart Repair

ABBOTT PARK, Ill. and MENLO PARK, Calif., Sept. 10 /PRNewswire-FirstCall/ -- Abbott announced today a definitive agreement to acquire the outstanding equity of Evalve, Inc., the global leader in the development of devices for minimally invasive repair of cardiac mitral valves. The acquisition provides Abbott with a presence in the growing area of non-surgical treatment for structural heart disease, in which physicians use catheter-based devices to repair or replace basic structural components of the heart such as mitral and aortic valves. The agreement includes an upfront payment of $320 million in cash, plus an additional payment upon completion of certain regulatory milestones, for a total of up to $410 million.

"The acquisition...

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