Abbott has already made strides with its finger-stick free glucose monitoring system, snagging a CE mark for the product in 2014. Now the company is building on that success after the device recently won European approval for use in children, a feather in the company's cap as it aims for similar regulatory blessings in the U.S.
Abbott's just-announced acquisition of ablation catheter player Kalila Medical reflects the growing adoption of interventional electrophysiology and other devices to treat atrial fibrillation and stroke.
Abbott once again added to its electrophysiology offerings via acquisition. It just announced the purchase of Kalila Medical, maker of an FDA-cleared steerable sheath for navigation during cardiac ablation procedures, for an undisclosed sum.
As healthcare providers call for more technology to improve efficiencies, some of the device industry's biggest players are stepping forward with deals aimed at speeding up services and reducing costs.
Over the summer, Abbott said that it was keeping an eye out for potential deals, even if it didn't want one with St. Jude. Now, the company has landed on its next purchase, snatching up diagnostics outfit Alere to bulk up in point-of-care diagnostics and expand its international reach.
Abbott has partnered with Chicago, IL-based Matter, a healthcare technology incubator, in its latest bid to access innovation. The diversified conglomerate, which markets nutrition, diagnostics, established pharmaceutical and medical device products, is under pressure to improve revenue growth and profitability in the wake of its 2013 split from the biopharma R&D-oriented AbbVie.
Abbott told FierceMedicalDevices that it will close its Redwood City, CA, manufacturing facility during the current quarter to improve the company's competitiveness and "better support its business in an ever-changing environment." The facility makes vascular devices.
Russia has a lot of purchasing muscle, but few sellers when it comes to pharmaceuticals, so the government has a plan to lure them with a vast increase in the products it buys from local makers. The nation's officials are focusing on the foreign drugmakers to set up production plants in Russia as one way to emerge from a string of recessions.
Abbott is promoting the health economics of its Supera Stent for peripheral artery disease, pointing to a yet-to-be-published study which found that the device is cost-effective because it reduces the need for interventions compared to competing therapies, like Medtronic's Protégé bare-metal peripheral stent and In.Pact Admiral drug-coated balloon.
This year's Fierce 15 companies are all working on big ideas such as cutting-edge patient monitoring, smartphone-based imaging, biodegradable valves and vessels, more accurate knee implants, intestinal ablation to treat diabetes, energy-delivering angioplasty balloons, an implantable cell-based pancreas replacement, and connected asthma inhalers as well as the consumerization of health devices and diagnostics.