Abbott to acquire Cardiovascular Systems for $837.6 mln, Health News, ET HealthWorld

Abbott to acquire Cardiovascular Systems for $837.6 mln

Chicago: Abbott Laboratories said on Wednesday it had agreed to acquire medical device maker Cardiovascular Systems Inc (CSI) for $837.6 million.

On a per-share basis, the medical device maker has offered $20, a 50.3 per cent premium to the last closing price of CSI stock.

The deal will help Abbott gain access to CSI’s minimally invasive device to treat blocked arteries.

Abbott said the transaction is expected to be neutral to its recently issued 2023 ongoing earnings forecast.

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