Friday, August 23, 2013

IDEV Acquisition By Abbott Completes

Webster, Texas-based IDEV Technologies, which develops medical devices for interventional radiologists, vascular surgeons and interventional cardiologists, is now officially part of Abott, Abbott said this week. The deal was worth $310M. Abbott had announced in July that it would be buying IDEV, which develops medical devices for treating blockages in blood vessels due to peripheral artery disease (PAD). IDEV was venture backed by per Jaffray & Co.'s Merchant Banking Fund (PJC Capital LLC), PTV Sciences, Bay City Capital, RiverVest Venture Partners and Heron Capital, along with strategic investors.