Abbott (NYSE: ABT) has completed their acquisition of Evalve, Inc. Evalve is a global leader in the development of devices for minimally invasive repair of mitral valves. The acquisition provides Abbott with a leading presence in the area of non-surgical treatment for structural heart disease. Abbott acquired the remaining outstanding equity of Evalve that they did not already own for an upfront payment of $320 million, plus a $90 million payment if certain regulatory milestones are met.
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Abbott is a global, broad-based health care company devoted to the discovery, development, manufacture and marketing of pharmaceuticals and medical products, including nutritionals, devices and diagnostics. The company employs more than 72,000 people and markets its products in more than 130 countries.
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