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Abbott Laboratories (ABT) to Buy Eye Laser, Stent Companies for About $560 Million


7/15/2013 6:55:49 AM

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Abbott Laboratories (ABT) agreed to buy two closely held companies, Idev Technologies and OptiMedica Corp., for about $560 million to expand its device offerings for treating blood vessel and eye diseases. Abbott, the medical device and nutritional products maker that split off its drug unit on Jan. 1, will pay $310 million for Idev, gaining a stent to treat blockages in leg arteries, the company said today in a statement. OptiMedica agreed to be acquired for $250 million, plus $150 million for reaching certain sales targets, in a deal that will give Abbott a laser system for cataract surgery.

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