Abbott Shells Out $710M To Expand Heart, Eye Portfolio

Law360, New York (July 15, 2013, 7:25 PM EDT) -- Abbott Laboratories expanded its presence in the heart and eye surgery markets Monday, agreeing to pay up to $710 million to take over IDEV Technologies, which manufactures a high-end stent product, and OptiMedica Corp., which makes cataract surgery equipment.

Abbott will pay $310 million for Texas-based IDEV and its flagship Supera Veritas stent system. For OptiMedica and its Catalys Precision Laser System, Abbott will pay $250 million upfront to acquire the California-based company with up to $150 million in additional payments if certain milestones are met....
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