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Abbott Ups Vascular, Ophthalmic Focus With Two Acquisitions

Abbott Laboratories announced July 15 it has entered into agreements to purchase stent manufacturer IDev Technologies and ophthalmic device company OptiMedica Corp. The acquisitions are intended to bolster the company’s medical device unit in the vascular and vision care businesses, respectively.

Abbott Laboratories Inc.has entered into agreements to purchase stent-maker IDev Technologies Inc. for $310 million and ophthalmic device company OptiMedica Corp. for up to $400 million, including $250 million upfront. Both deals, announced July 15, are expected to close by the end of the year.

The acquisitions are consistent with Abbott’s increased emphasis on medical devices following the spinoff of its pharmaceutical and biologics business,...

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