Abbott to Acquire i-STAT for $392 Million

In a move to further enhance the company's position in point-of-care (POC) diagnostics, Abbott Laboratories (Abbott Park, IL, USA) has agreed to acquire i-STAT Corp. (East Windsor, NJ, USA) for about U.S.$392 million.

i-STAT is a leading manufacturer of POC diagnostic systems, including critical care assays for blood gases, electrolytes, general chemistries, and hematocrit. Recently the company began marketing immunoassay tests for troponin I, for emergency department testing of patients presenting with chest pain. The company's i-STAT Central Data Station is widely used in hospitals to store and organize information on tests that have been performed. Abbott and i-STAT entered into a strategic alliance for POC testing in 1998, and the two companies are currently negotiating an amendment to the existing agreement to assure an orderly transition process.

"Through our strategic alliance with i-STAT and the MediSense Precision PCx and point-of-care data management systems, Abbott has established a leading position in point-of-care diagnostics that will be further enhanced by this acquisition,” said Richard A. Gonzalez, president and COO, medical products group, Abbott Laboratories. "It provides an excellent fit with our long-term strategy of expanding our capabilities in diagnostics while targeting medical needs at the point of patient care.”






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