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© cumypah dreamstime.com Business | August 22, 2013

Abbott completes acquisition of IDEV Technologies

Abbott has completed its acquisition of IDEV Technologies, a privately held company focused on developing next-generation medical devices for use by interventional radiologists, vascular surgeons and interventional cardiologists.

"Peripheral artery disease is a significant and growing health concern around the world, raising the need for new and effective treatment options," said Chuck Foltz, senior vice president, vascular, Abbott. "Abbott's acquisition of IDEV Technologies strengthens our global product portfolio while providing an additional opportunity to make a positive impact in the lives of patients with peripheral artery disease." Abbott acquired all outstanding equity of IDEV Technologies for USD 310 million net of cash and debt.
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