Abbott said Feb. 8 it will acquire St. Paul, Minn.-based Cardiovascular Systems, a medical device company with products for treating peripheral and coronary artery disease, in a deal worth $890 million.
The cardiovascular device business "is a leader in devices for atherectomy, a minimally invasive treatment for plaque build-up in arteries that can restrict blood flow," according to an Abbott news release. "Procedural use of atherectomy can help maximize the benefits of standard balloon angioplasty or stent treatments in restoring blood flow in complex arterial disease."
Both boards of directors approved the transaction, and Abbott did not disclose a tentative acquisition date.