Abbott Vascular Completes Acquisition of Tendyne Holdings

September 2, 2015—Abbott Vascular announced that it has completed its acquisition of Tendyne Holdings, Inc., a private medical device company focused on developing minimally invasive mitral valve replacement therapies. Abbott acquired the equity of Tendyne that it did not already own for $225 million up front, resulting in a total transaction value of $250 million, plus potential future payments tied to regulatory milestones. Abbott first announced plans for the transaction on July 30.

According to Abbott Vascular, Tendyne’s bioprosthetic mitral valve system is an investigational device and not currently available for sale. The US Food and Drug Administration has given approval for a feasibility clinical trial to provide data about the device's safety and effectiveness. The commencement of patient enrollment was announced in April. Abbott Vascular stated that there are plans to begin enrollment next year in a clinical trial to support CE Mark approval in Europe.