Corporate
News release
TopTOKYO, 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 30,000 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.