Dec. 30, 2016
Abbott Laboratories has announced that it plans to close the acquisition of St. Jude Medical, Inc., on Wednesday, Jan. 4, 2017. The announcement follows receipt of all regulatory clearances required for closing.
After this transaction, Abbott will be able to establish as a leader in the medical device arena and enjoy expanded opportunities for future growth. The company has an ongoing effort to develop a strong, diverse portfolio of devices, diagnostics, nutritionals and branded generic pharmaceuticals, and the addition of St. Jude Medical will be an important part of this effort.
Miles D. White, chairman and chief executive officer, Abbott, said: “We continue to deliberately shape our business for long-term success by securing leadership positions in attractive markets and focusing on customer needs. This philosophy has served as the foundation for significant and sustainable value creation for our shareholders. The addition of St. Jude Medical creates one of the broadest medical device portfolios in the world and provides a steady stream of new technologies and therapies for many years to come.”