Abbott is expanding its cardiovascular device portfolio with its acquisition of Cardiovascular Systems. Under terms of the agreement, Cardiovascular Systems’ stockholders will receive $20 per common share at a total expected equity value of approximately $890 million.
J.P. Morgan Securities LLC served as the financial advisor to Cardiovascular Systems. The transaction is expected to be neutral to Abbott’s 2023 ongoing earnings per share guidance.
Cardiovascular Systems is a medical device company focused on the development and commercialization of solutions for treating complex peripheral vascular disease and coronary artery disease.
Abbott manufactures and sells healthcare products worldwide including branded generic drugs, diagnostic products and vascular products. Abbott’s 115,000 employees serve people in more than 160 countries.
According to data captured in the LevinPro HC database, this acquisition represents the 20th Medical Devices deal of 2023. There were 121 Medical Devices transactions posted in 2022.
