Abbott Laboratories to Acquire Cardiovascular Systems At Equity Value of $890 Million
09 Februar 2023 - 12:52AM
Dow Jones News
By Kathryn Hardison
Abbott Laboratories plans to acquire medical-device company
Cardiovascular Systems Inc. in a deal that will boost Abbott's
vascular disease offerings.
Under the terms, Cardiovascular Systems stockholders will
receive $20 per common share at a total expected equity value of
about $890 million, the companies said Wednesday.
Cardiovascular Systems, or CSI, specializes in devices for
atherectomy, a minimally invasive treatment for plaque build-up in
arteries that can restrict blood flow, the companies said. It also
has an early-stage pipeline of complementary vascular intervention
devices in development.
The transaction, which has been approved by the boards of
directors of CSI and Abbott, is subject to the approval of CSI
stockholders and applicable regulatory approvals.
J.P. Morgan Securities LLC is serving as financial adviser to
CSI.
Write to Kathryn Hardison at kathryn.hardison@wsj.com
(END) Dow Jones Newswires
February 08, 2023 18:37 ET (23:37 GMT)
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