Abbott concludes acquisition of Cardiovascular Systems
Abbott Park, Ill: Abbott has announced it has completed the acquisition of Cardiovascular Systems, Inc. (CSI), a medical device company with an 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.
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Cardiovascular Systems, Inc., based in St. Paul, Minn., is a medical device company focused on developing and commercializing innovative solutions for treating vascular and coronary disease. The company's orbital atherectomy system treats calcified and fibrotic plaque in arterial vessels throughout the leg and heart and addresses many of the limitations associated with existing surgical, catheter and pharmacological treatment alternatives.
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