Abbott Ventures: Building A Venture Portfolio in Devices

Corporate venture investing has become an increasingly important source of capital as traditional venture firms remained squeezed. In devices, the latest entrant into the field is Abbott Ventures, which sees itself as an extension of Abbott's internal efforts to build its device pipeline, favoring mid-stage deals in technology and therapeutic areas that fit strategically with Abbott's existing device businesses.

For the past decade or so, arguably no company has been more active in creating a major presence in medical devices than Abbott Laboratories Inc. Beginning in the late 1990s, the company has built a leading cardiovascular device franchise through a series of acquisitions, large and small – most notably with the purchase of the Guidant Corp. interventional cardiology business – while, serially, entering spine, only to exit and swap it out for an important stake in the ophthalmology market through its recent acquisition of Advanced Medical Optics Inc. (now Abbott Medical Optics Inc.). [See Deal][See Deal]

All of these moves were built on a major strategic planning initiative in medical devices that Abbott undertook a decade...

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