Abbott To Acquire Cardiovascular Systems In $890 Mln Deal

(RTTNews) - Abbott (ABT) said Wednesday that it agreed to acquire Cardiovascular Systems Inc, a medical device company with an atherectomy system used in treating peripheral and coronary artery disease, in a deal valued at about $890 million.

Under terms of the agreement, Cardiovascular Systems Inc or CSI stockholders will receive $20 per common share.

The transaction is expected to be neutral to Abbott's recently issued 2023 ongoing earnings per share guidance.

The transaction, is subject to the approval of CSI stockholders and the satisfaction of customary closing conditions, including applicable regulatory approvals.