Abbott Laboratories, a pharmaceutical and medical device company in Abbott Park, Ill., will pay $410 million in cash to acquire all outstanding shares of cardiac-device maker Evalve, Menlo Park, Calif., according to a news release. Abbott currently holds a 10% interest in the devicemaker.
Evalve specializes in the development of catheter-based devices used to repair cardiac mitral valves. The deal, which is subject to customary regulatory review, is expected to close during the fourth quarter of 2009.
