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October 18, 2016

TOKYO, JAPAN - October 18, 2016 - Terumo Corporation (TSE: 4543) announced today that Terumo, Abbott and St. Jude Medical, Inc. have reached an agreement in principle to acquire certain products owned by St. Jude Medical and Abbott for a total of $1.12 billion. The transaction is subject to completion of antitrust regulatory approvals and Abbott's acquisition of St. Jude Medical. Terumo, Abbott and St. Jude Medical are bound by the terms of an exclusivity agreement.

The divestiture will include St. Jude Medical's Angio-Seal™ and FemoSeal™ vascular closure products and Abbott's Vado™ Steerable Sheath. The Angio-Seal™ product lines offer healthcare providers an alternative to manual compression for sealing puncture sites on patients who have undergone a catheterization procedure.

Terumo, Abbott and St. Jude Medical have negotiated an acquisition agreement, which is being reviewed by antitrust authorities in connection with Abbott's announced acquisition of St. Jude Medical. The impact of the acquisition on Terumo's business performance will be examined.

About Terumo

Terumo (TSE: 4543) is a global leader in medical technology and has been committed to “Contributing to Society through Healthcare” for 100 years. Based in Tokyo and operating globally, Terumo employs more than 28,000 associates worldwide to provide innovative medical solutions in more than 160 countries and regions. The company started as a Japanese thermometer manufacturer, and has been supporting healthcare ever since. Now, its extensive business portfolio ranges from vascular intervention and cardio-surgical solutions, blood transfusion and cell therapy technology, to medical products essential for daily clinical practice such as transfusion systems, diabetes care, and peritoneal dialysis treatments. Terumo will further strive to be of value to patients, medical professionals, and society at large.

Among the information that Terumo discloses, the forward-looking statements including financial projections are based upon our assumptions using information available to us at the time and are not intended to be guarantees of future events or performance. Accordingly, it should be noted that actual results may differ from those forecasts or projections due to various factors. Factors affecting to actual results include, but are not limited to, changes in economic conditions surrounding Terumo, fluctuations of foreign exchange rates, and state of competition.

 

Information about products (including products currently in development) included in this material is not intended to constitute an advertisement or medical advice.