Abbott acquires remaining 90% stake in Evalve
ABT | Quote | Chart | News | PowerRating -- Abbott Laboratories has acquired Evalve, Inc., a designer, developer, and manufacturer of devices that enable the repair of cardiac valves. Abbott Laboratories is a diversified pharmaceuticals healthcare company. Both the companies are based in US.
Abbott acquired the remaining outstanding equity of Evalve that it did not already own for an upfront payment of $320 million, plus a $90 million payment if certain regulatory milestones are met.
Announcement (September 10, 2009):
Abbott Laboratories has entered into a definitive agreement to acquire the remaining 90% outstanding equity of Evalve, Inc. The transaction is valued at approximately $410 million.
Cooley Godward Kronish LLP is acting as advisor to Evalve.
Deal Value (US$ Million) 410
Deal Type Acquisition
Sub-Category Majority Acquisition
Deal Status Completed: 2009-11-02
Deal Participants
Target (Company) Evalve, Inc.
Acquirer (Company) Abbott Laboratories
Deal Rationale
The acquisition enables Abbott to enhance its business in non-surgical treatment for structural heart diseases and to broaden its medical devices portfolio.
% Acquisition 90%
For full details on Abbott Laboratories (ABT) ABT. Abbott Laboratories (ABT) has Short Term PowerRatings at TradingMarkets. Details on Abbott Laboratories (ABT) Short Term PowerRatings is available at This Link.
- Abbott Submits New Automated Ovarian Cancer Test for U.S. Approval - 02/08/10
- Wockhardt view sought on keeping sale proceeds - 02/06/10
- Abbott Laboratories (ABT) Corporate Event Announcement Notice - 02/05/10
- Pierre Fabre signs license and development agreement with Abbott Laboratories - 02/05/10
- Health Discovery Corporation Partners with Major New York City Pancreatic Cancer Center to Develop a New Molecular Diagnostic Te - 02/05/10
- More News >>
