Abbott Snaps Up Evalve In $410M Deal

Law360, New York (September 10, 2009, 6:12 PM EDT) -- Abbott Laboratories said Thursday it had agreed to acquire cardiac device maker Evalve Inc. in a $410 million deal meant to expand the company’s reach in the market for minimally invasive repair of cardiac mitral valves.

The agreement includes an upfront payment of $320 million in cash, plus an additional payment upon completion of certain regulatory milestones, for a total of up to $410 million, Abbott said.

According to Abbott, the deal will boost its presence in the growing area of nonsurgical treatment for structural heart...
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