St. Jude Medical, Abbott to Sell Portion of Vascular Closure, Electrophysiology Businesses to Terumo

Abbot and St. Jude Medical have made an agreement in principle to sell particular products to Terumo.

The products are St. Jude Medical's Angio-Seal and Femoseal vascular closure products and Abbott's Vado Steerable Sheath. Abbott will retain its vascular closure products, which include the Perclose ProGlide Suture-Mediated Closure System, StarClose SE Vascular Closure System and Prostar XL Percutaneous Vascular Surgical System.

The purchase price is about $1.12 billion and is contingent to the successful completion of Abbott's purchase of St. Jude Medical and antitrust regulatory approvals. — Cynthia Jessup