Abbott, St. Jude Medical To Sell Certain Products To Terumo For $1.12 Bln

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( - Abbott ( ABT ) and St. Jude Medical, Inc. ( STJ ) Tuesday announced an agreement in principle to sell certain products to Terumo Corp. The all-cash transaction is worth $1.12 billion.

The divestiture will include the products globally for St. Jude Medical's Angio-Seal and Femoseal vascular closure products and Abbott's Vado Steerable Sheath. Abbott will retain its vascular closure products.

Abbott said following the acquisition of St. Jude Medical, the combined business will compete in nearly every area of the cardiovascular market and hold top positions in high-growth segments, including atrial fibrillation, structural heart and heart failure, as well as a leading position in the high-growth neuromodulation market.

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Referenced Symbols: 4543 , ABT , STJ

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