ABBOTT PARK, Ill., Dec. 22, 2014 /PRNewswire/ -- Abbott (NYSE: ABT) today announced that it has completed its acquisition of Topera, Inc., a private, venture-backed medical device company focused on developing innovative electrophysiology technologies to improve the diagnosis and treatment of atrial fibrillation, one of the most common heart rhythm disorders in the world. Catheter-based electrophysiology is an approximately $3 billion global market that has been growing annually at double-digit rates.
Topera has developed a novel diagnostic catheter and mapping software, or rotor identification system, which helps physicians identify and target patient-specific rotors that have been shown to be the sustaining mechanism for atrial fibrillation. The ability to locate these rotors enables the physician to individualize patient treatment through a procedure referred to as Focal Impulse and Rotor Mapping guided ablation, or FIRM-guided ablation. Topera's rotor identification system has been shown, when used with existing catheter ablation therapy, to result in positive long-term success rates, even in difficult-to-treat cases.
"The Topera acquisition gives Abbott a foundational entry in the large, high-growth electrophysiology market with breakthrough technologies that can transform how physicians treat people with complex heart rhythm disorders," said John M. Capek, Ph.D., executive vice president, Medical Devices, Abbott. "The ability to more accurately target the areas of the heart perpetuating atrial fibrillation is a significant advancement in the field of electrophysiology and can transform patient care."
Under the terms of the acquisition, Abbott acquired all outstanding equity of Topera for $250 million upfront, plus potential future payments tied to performance milestones.
Abbott is a global healthcare company devoted to improving life through the development of products and technologies that span the breadth of healthcare. With a portfolio of leading, science-based offerings in diagnostics, medical devices, nutritionals and branded generic pharmaceuticals, Abbott serves people in more than 150 countries and employs approximately 69,000 people.
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Private Securities Litigation Reform Act of 1995 – A Caution Concerning Forward-Looking Statements
Some statements in this news release may be forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. Abbott cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Economic, competitive, governmental, technological and other factors that may affect Abbott's operations are discussed in Item 1A, "Risk Factors," to our Annual Report on Securities and Exchange Commission Form 10-K for the year ended Dec. 31, 2013, and are incorporated by reference. Abbott undertakes no obligation to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.
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