Abbott Laboratories has completed its acquisition of Cardiovascular Systems, Inc. (CSI), a medical device company that provides atherectomy systems used to treat peripheral and coronary artery disease. The acquisition will help Abbott expand its portfolio of vascular disease treatments, giving it access to CSI’s leading atherectomy system, which prepares vessels for angioplasty or stenting to restore blood flow. CSI is now a wholly owned subsidiary of Abbott.
Abbott Laboratories(NYSE: ABT) today announced it has completed the acquisition of Cardiovascular Systems, Inc. (CSI), a medical device company with an innovative atherectomy system used in treating peripheral and coronary artery disease.
The transaction provides Abbott with a complementary solution for treating vascular disease. CSI’s leading atherectomy system prepares vessels for angioplasty or stenting to restore blood flow.
“For patients with complex cardiovascular disease, new and innovative therapies such as CSI’s leading atherectomy system are an opportunity to live better, fuller lives,” said Lisa Earnhardt, executive vice president, Medical Devices, Abbott. “The acquisition of CSI is a component of an overall investment in our vascular portfolio that enhances our ability to care for patients with peripheral and coronary artery disease.”
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Pursuant to the terms of the merger agreement, upon completion of the acquisition, CSI became a wholly owned subsidiary of Abbott. As a result of the completion of the acquisition, April 27 was the last day of trading of CSI shares on the Nasdaq Stock Market.
Source: BioSpace