Abbott to buy New Brighton-based Cardiovascular Systems Inc. for $890 million

Medtech giant Abbott is buying New Brighton-based Cardiovascular Systems Inc. for $890 million, expanding its portfolio in treating artery disease.

Cardiovascular Systems (CSI) specializes in atherectomy, a minimally invasive treatment for plaque build-up in arteries that can restrict blood flow. CSI shareholders will receive $20 per share as a part of the deal, pending necessary approvals.

"The acquisition of CSI will add new, complementary technologies to Abbott's leading vascular device offerings," Lisa Earnhardt, Abbott's executive vice president of medical devices, said in a statement. "CSI has a talented and experienced team and a leading atherectomy system that will allow Abbott to provide physicians more tools to help patients live fuller lives."

https://www.startribune.com/abbott-to-buy-new-brighton-based-cardiovascular-systems-inc-for-890-million/600250175/