Terumo Corporation (TSE: 4543) announced today that Terumo, Abbott and St. Jude Medical, Inc. have reached an agreement in principle to acquire certain products owned by St. Jude Medical and Abbott for a total of $1.12 billion. The transaction is subject to completion of antitrust regulatory approvals and Abbott's acquisition of St. Jude Medical. Terumo, Abbott and St. Jude Medical are bound by the terms of an exclusivity agreement.
The divestiture will include St. Jude Medical's Angio-Seal™ and Femoseal™ vascular closure products and Abbott's Vado™ Steerable Sheath. The Angio-Seal™ product lines offer healthcare providers an alternative to manual compression for sealing puncture sites on patients who have undergone a catheterization procedure.
Terumo, Abbott and St. Jude Medical have negotiated an acquisition agreement, which is being reviewed by antitrust authorities in connection with Abbott's announced acquisition of St. Jude Medical. The impact of the acquisition on Terumo's business performance will be examined.
Tokyo-based Terumo Corporation is one of the world's leading medical device manufacturers with over $5 billion in sales, operations in more than 160 nations, and approximately 21,000 employees worldwide. Founded in 1921, the company develops, manufactures and distributes world-class medical devices including products for use in cardiothoracic surgery, interventional procedures and transfusion medicine; the company also manufactures a broad array of syringe and hypodermic needle products for hospital and physician office use. Terumo contributes to society by providing valued products and services to the health care market and by responding to the needs of health care providers and the people they serve. Terumo Corporation's shares are listed on the first section of the Tokyo Stock Exchange (No. 4543, Reuters symbol <4543.T>, or Bloomberg 4543: JP) and is a component of the Nikkei 225, Japan's leading stock index.
Founded in 1972 as a Terumo Corporation subsidiary, Terumo Medical Corporation (TMC) develops, manufactures, and markets high-quality medical devices used in a broad range of applications in numerous healthcare markets. TMC boasts 716 employees in the United States and is structured with three main business divisions including Terumo Interventional Systems, Terumo Medical Products, and Terumo Pharmaceutical Solutions. TMC manufactures a broad portfolio of safety needles and syringes, safety peripheral IV catheters, entry-site management products, and a line of blood collection products used in hospitals and blood banks worldwide.
Terumo Interventional Systems (TIS), a division of Terumo Medical Corporation, is a market leader in minimally invasive entry site management, lesion access, and interventional technologies. TIS offers a complete, solution-based product portfolio used in advanced coronary, peripheral endovascular and urological treatments with strategic initiatives in Transradial Access, Complex Coronary Intervention, Peripheral Artery Disease and Embolotherapy. TIS combines innovative research and development with a deep market understanding to create a pipeline of industry leading devices that deliver clinical value, economic benefit, and enhanced patient outcomes.