Abbott Finally Pulls the Trigger on Cephea Acquisition

It was only a matter of time before Abbott Laboratories exercised its option to acquire Cephea Valve Technologies, a company it first invested in back in 2015. The Abbott Park, IL-based company announced on Wednesday it would acquire the mitral valve maker for an undisclosed sum. Cephea's technology is being developed to provide an option for people whose diseased mitral valves need to be replaced. The artificial valve is designed to be delivered through a vein in the leg, forgoing the need for open-heart surgery. Replacement of the diseased mitral valve restores normal blood flow through the heart. "The acquisition of Cephea builds on Abbott's strong position in structural heart therapies and is consistent with our strategy to develop comprehensive treatments for people with mitral valve disease," Michael Dale, vice president of Abbott's structural heart business, said in a statement. "Cephea's novel approach to replace the mitral valve adds to our other catheter-based technologies and is being developed to provide an additional option for patients who suffer from this difficult-to-treat disease." Are you ready for MD&M West? Join us from Feb. 5 - Feb. 7 for medtech's premiere event in Anaheim, CA.   Abbott began investing in Cephea around the same it acquired, Roseville, MN-based Tendyne Holdings for $225 million plus additional milestones. Tendyne was developing the Bioprosthetic mitral valve. Abbott has been working on making invest...
Source: MDDI - Category: Medical Devices Authors: Tags: Cardiovascular Business Source Type: news