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The MitraClip Gets Gobbled Up By Abbott

Posted by Adam Pick on September 11th, 2009

Since my heart valve surgery, I have been fascinated by the strategic, corporate acquisitions of leading device manufacturers in this industry.

In fact, I began writing about the ongoing consolidation of heart valve manufacturers years ago. As of late, the “urge-to-merge” has really focused on the minimally invasive technologies for both heart valve repair and heart valve replacement.

That said, it was somewhat expected that a company like Evalve, with its MitraClip technology for mitral regurgitation, would be acquired. However, for some reason, I didn’t think that Abbot Laboratories would be the gobbler. I thought Edwards or Medtronic or St. Jude might be the buyer. (Then again, I think Abbot was one of Evalve’s investors.)

Also, I didn’t think the value would be $410 million considering current revenues. Then again, Medtronic did complete two deals earlier this year (Corevalve, Ventor Technologies) for over $1 billion. I guess both Abbott and Medtronic believe the future cash flows from these technologies will swell from the rate of heart valve disease diagnosis and treatment among the baby boomer generation.

Chart - Baby Boomers Prepare For Retirement

I wish the team at Abbot / Evalve much success in their new marriage. I’ve been lucky to meet and discuss the Mitraclip with a few members of Evalve’s senior management team. They are good people with a solid technology which has produced encouraging patient results. Now, with Abbot fully behind them, I imagine that distribution (sales and marketing) will be much, much, much more efficient.

Keep on tickin!

Adam Pick
Written by Adam Pick A dad, a husband and a patient, Adam Pick founded this website in 2006 to educate you about heart valve surgery from diagnosis to recovery.
You can get the latest updates about heart valve surgery from Adam at his Facebook, and Twitter pages. Click here to email him.

 


George de la Flor says on September 13th, 2009 at 3:30 pm

Don’t understand about the comments regarding mitra-clip. Is this in use now at all? Thought we were a couple of years away from FDA approval. Are stats based on volunteers for experimental use?
If it’s being done, where and by whom? How do we get more information?

 


Bev Barnhart says on October 8th, 2009 at 6:56 pm

is this available in springfield mo? will this keep the heart from enlarging?

 

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