October 18, 2016 / 12:20 PM / in a year

St. Jude and Abbott to sell some medical devices for $1.12 bln

Oct 18 (Reuters) - Abbott Laboratories and St. Jude Medical Inc said they would sell some of their medical devices to Japan-based Terumo Corp for about $1.12 billion.

The all-cash transaction will include St. Jude Medical’s Angio-Seal and Femoseal vascular closure products and Abbott’s Vado Steerable Sheath.

Abbott said the deal is an important step toward completion of its acquisition of St. Jude Medical, which is expected to close by the year-end. (Reporting by Ankur Banerjee in Bengaluru; Editing by Sriraj Kalluvila)

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