How much is Abbott Laboratories prepared to pay to acquire Evalve Inc?
Abbott Laboratories (ABT.N) said on Thursday it has agreed to acquire the 90 percent of Evalve Inc that it does not already own for up to $410 million to secure a leadership position in nonsurgical treatment for structural heart disease. Evalve’s MitraClip system, used to clip the leaflets of the mitral valve together to reduce regurgitation, is approved for use in Europe and is being tested in U.S. clinical trials. “With this breakthrough mitral valve repair technology, physicians will be able to offer their patients a minimally invasive alternative to open heart surgery — not unlike the opportunity that stents provided more than two decades ago for the treatment of coronary artery disease,” John Capek, Abbott’s executive vice president, medical devices, said in a statement. The agreement includes an upfront payment of $320 million in cash, plus an additional payment at completion of certain regulatory milestones, for a total of up to $410 million. Mitral regurgitation, a condition t
