Abbot reported today the finalization of its acquisition of IDEV technologies for USD 310 million. IDEV is a private company that deals with the development of medical devices. The devices owned by IDEV are used by interventional radiologists, vascular surgeons and interventional cardiologists.

This recent acquisition will add to Abbott's portfolio of global peripheral technology assets. In this buyout, Abbott stands to acquire IDEV's SUPERA Veritas. SUPERA Veritas is a self-expanding nitinol stent system. SUPERA Veritas also has CE Mark in Europe that aids in the treatment of blockages in the main artery of the thigh.

In the United States, Supera Veritas was accredited only for biliary strictures treatment or the narrowing of a bile duct. The said process is currently utilized for cancer related treatment procedures. At present, the technology is under the review of the U.S. Food and Drug Administration as a treatment for the superficial femoral artery.

Abbott is a healthcare company with its main focus on improving life through the improvement of healthcare. Its portfolio also includes science-based offerings in diagnostics, medical devices and branded generic medicines.  Abbot currently has 70,000 employees under his leadership.