- Abbott (NYSE:ABT) and St. Jude Medical (NYSE:STJ) have agreed in principle to sell certain products to Terumo (OTCPK:TRUMF)(OTCPK:TRUMY) for $1.12B in cash. The transaction, contingent on the successful completion of Abbott's $25B acquisition of St. Jude, includes St. Jude's Angio-Seal and Femoseal vascular closure products and Abbott's Vado Steerable Sheath.
- Abbott will retain its vascular closure products, including the Perclose ProGlide Suture-Mediated Closure System, StarClose SE Vascular Closure System and Prostar XL Percutaneous Vascular Surgical System.
- Abbott adds that its expects to mitigate any impact on non-GAAP earnings related to the sale of the assets.