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Abbott To Take Over Cardiovascular Systems For USD 837.6 Mn

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

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

On a per-share basis, the medical device maker has offered USD 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.

(Reuters)



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