Abbott Acquires Integrated Vascular Systems

In a move that will complement the company's currently marketed closure technologies, Abbott Laboratories (Abbot Park, IL, USA) has acquired Integrated Vascular Systems, Inc. (IVS, Sunnyvale, CA, USA) for about US$65 million in cash plus an additional milestone payment if agreed-upon targets are met. IVS will become part of Abbott Vascular Devices (Redwood City, CA, USA).

"This acquisition is an excellent fit with our strategy to build a comprehensive portfolio of vessel closure devices that meet the varied needs of clinicians,” said Robert B. Hance, president, Abbott Vascular Devices. "IVS's technology is intended to offer clinicians an easy-to-use closure option without sacrificing confidence in the close, and will be a natural complement to Abbott Vasclar Devices' currently marketed closure technologies.”

Vessel closure following catheterization often results in patient discomfort and can require several hours to achieve hemostasis. The mission of Abbott Vascular Devices is to become the leader in vessel closure devices. In 1999, Abbott acquired Perclose, an inportant developer of vessel closure devices. Recently, Abbott launched Perclose A-T and the Closer S. In 2002, Abbott introduced the Chito-Seal topical hemostasis pad, which expedites clot formation and accelerates hemostasis.





Related Links:
Abbott
IVS