Abbott Completes $850M Acquisition of Cardiovascular Systems, Inc.

On April 26, 2023, Abbott announced that it completed its acquisition of Cardiovascular Systems, Inc. (CSI), which it agreed to acquire in February. Abbott paid $20 per common share of CSI, with an equity value of approximately $850 million. CSI is now a wholly owned subsidiary of Abbott. 

CSI was founded in 1989 and is based in St. Paul, Minnesota. As a leader in devices for atherectomy—a minimally invasive treatment for plaque buildup in arteries—this acquisition is part of an overall investment in Abbott’s vascular portfolio. CSI’s innovative Diamondback 360 system for atherectomy is a handheld, catheter-based medical device. This minimally invasive system features a diamond-coated crown attached to an orbiting shaft that rotates 360 degrees within the artery, sanding away plaque while preserving healthy vessel tissue. Used in addition to or as an alternative to balloon angioplasty, the system prepares vessels for angioplasty or stenting to restore blood flow.

Abbott, which develops its own angioplasty solutions and stents, said in a news release that the acquisition provides the company with a complementary solution for treating vascular disease. “For patients with complex cardiovascular disease, new and innovative therapies such as CSI’s leading atherectomy system are an opportunity to live better, fuller lives,” said Lisa Earnhardt, EVP, medical devices, Abbott. “The acquisition of CSI is a component of an overall investment in our vascular portfolio that enhances our ability to care for patients with peripheral and coronary artery disease.”

Abbott and CSI both have deep expertise across the spectrum of vascular care. By bringing together that expertise, along with a shared passion for helping people live their fullest lives through better health, the tools are in place to continue creating breakthroughs in care.