Abbott ‘set to acquire Evalve’

Abbott has revealed plans to acquire the specialist in minimally invasive cardiac valve repair technology, Evalve.

Through the acquisition, the company is aiming to increase its expertise in this area and expand its vascular portfolio, as well as position itself as a leader in the field of non-surgical treatment options for structural heart repair.

The transaction will be completed with an upfront payment of $320 million (191.2 million pounds) and further payments for various milestones up to the value of $410 million.

John Capek, the executive vice president of medical devices at Abbott, stated: “With this breakthrough mitral valve repair technology, physicians will be able to offer their patients a minimally invasive alternative to open heart surgery, not unlike the opportunity that stents provided.”

Abbott announced the details of another acquisition this week – that of intraocular lens technology firm Visiogen. The company will use the expertise developed by Visiogen to offer enhanced treatments for presbyopia in cataract sufferers.