October 18, 2016
TOKYO, JAPAN - October 18, 2016 - Terumo Corporation (TSE: 4543) announced today that Terumo, Abbott and St. Jude Medical, Inc. have reached an agreement in principle to acquire certain products owned by St. Jude Medical and Abbott for a total of $1.12 billion. The transaction is subject to completion of antitrust regulatory approvals and Abbott's acquisition of St. Jude Medical. Terumo, Abbott and St. Jude Medical are bound by the terms of an exclusivity agreement.
The divestiture will include St. Jude Medical's Angio-Seal™ and FemoSeal™ vascular closure products and Abbott's Vado™ Steerable Sheath. The Angio-Seal™ product lines offer healthcare providers an alternative to manual compression for sealing puncture sites on patients who have undergone a catheterization procedure.
Terumo, Abbott and St. Jude Medical have negotiated an acquisition agreement, which is being reviewed by antitrust authorities in connection with Abbott's announced acquisition of St. Jude Medical. The impact of the acquisition on Terumo's business performance will be examined.
Tokyo-based Terumo Corporation is one of the world's leading medical device manufacturers with over $5 billion in sales, operations in more than 160 nations, and approximately 21,000 employees worldwide. Founded in 1921, the company develops, manufactures and distributes world-class medical devices including products for use in cardiothoracic surgery, interventional procedures and transfusion medicine; the company also manufactures a broad array of syringe and hypodermic needle products for hospital and physician office use. Terumo contributes to society by providing valued products and services to the health care market and by responding to the needs of health care providers and the people they serve. Terumo Corporation's shares are listed on the first section of the Tokyo Stock Exchange (No. 4543, Reuters symbol <4543.T>, or Bloomberg 4543: JP) and is a component of the Nikkei 225, Japan's leading stock index.
(Notice) Among the information that Terumo discloses, the forward-looking statements including financial projections are based upon our assumptions using information available to us at the time and are not intended to be guarantees of future events or performance. Accordingly, it should be noted that actual results may differ from those forecasts on projections due to various factors. Factors affecting to actual results include, but are not limited to, changes in economic conditions surrounding Terumo, fluctuations of foreign exchange rates, and state of competition. The market share information in this press release is partly derived from our own independent research.