Abbott to buy Idev Technologies and OptiMedica Corp. for US$560 million
Abbott Laboratories would buy Idev Technologies and OptiMedica Corp. for around US$560 million. Abbott would purchase the two closely held corporations to expand its apparatus offerings. Its enterprise on treating blood vessels and diseases on the eyes would benefit from the purchase.
Abbott was a medical device and nutritional merchandises manufacturer. It would pay US$310 million for Idev. Abbott said that the purchase of Idev would allow it to gain a stent to cure blockages in arteries found on the legs. On the other hand, OptiMedica agreed to be purchased for US$250 million. This would include US$150 million for reaching particular sales target. The transaction would give Abbott a laser system that could be used for cataract surgery.
The purchase would enable to Abbott Park, Illinois-headquartered corporation to expand in growing medical areas as the population matured. On Friday, Abbott plunged less than 1% to US$35.32 in trading in New York. Its stocks rose 13% since January 1 when the corporation split.