Abbott acquires remaining 90% stake in Evalve

Abbott Laboratories has acquired Evalve, Inc., a designer, developer, and manufacturer of devices that enable the repair of cardiac valves. Abbott Laboratories is a diversified pharmaceuticals healthcare company. Both the companies are based in US.

Abbott acquired the remaining outstanding equity of Evalve that it did not already own for an upfront payment of $320 million, plus a $90 million payment if certain regulatory milestones are met.

Announcement (September 10, 2009):

Abbott Laboratories has entered into a definitive agreement to acquire the remaining 90% outstanding equity of Evalve, Inc. The transaction is valued at approximately $410 million.

Cooley Godward Kronish LLP is acting as advisor to Evalve.

Deal Value (US$ Million) 410
Deal Type                Acquisition
Sub-Category             Majority Acquisition
Deal Status              Completed: 2009-11-02

Deal Participants

Target (Company)   Evalve, Inc.
Acquirer (Company) Abbott Laboratories

Deal Rationale

The acquisition enables Abbott to enhance its business in non-surgical treatment for structural heart diseases and to broaden its medical devices portfolio.

% Acquisition 90%

Related terms: acquisition, advisor, business, equity, healthcare, manufacturer, medical, pharmaceuticals, structural