Abbott has now completed the acquisition of St Jude Medical. The Abbott press release announcing the completion of the acquisition said, “The transaction provides Abbott with expanded opportunities for future growth and is an important part of the company’s ongoing effort to develop a strong, diverse portfolio of devices, diagnostics, nutritionals and branded generic pharmaceuticals.”
“Abbott has a strong track record of successfully integrating dozens of businesses on a global scale and accelerating growth,” said Miles D White, chairman and chief executive officer of Abbott. “The addition of St Jude Medical strengthens our global medical device leadership while offering innovative products to address more areas of care, in more physicians’ offices and hospitals around the world.”
Pursuant to the terms of the agreement, upon completion of the acquisition St Jude Medical became a wholly-owned subsidiary of Abbott. As a result of the completion of the acquisition, 4 January, 2017, was the last day of trading of St Jude Medical shares on the New York Stock Exchange.