Consent agreement resolves competition issues in acquisition of medical devices supplier

News Release

December 28, 2016 — OTTAWA, ON — Competition Bureau

The Commissioner of Competition has signed a consent agreement with Abbott Laboratories related to its acquisition of St. Jude Medical, Inc.

Under the terms of the consent agreement, Abbott will sell St. Jude’s vessel closure devices business to Terumo Corporation. Vessel closure devices are used following certain cardiovascular procedures to seal the small access hole made in the artery during such procedures. Abbott and St. Jude are the largest suppliers of these devices in Canada.

The consent agreement resolves the Commissioner’s concerns that the proposed transaction would likely result in a substantial lessening of competition in the supply of vessel closure devices in Canada.

Quick Facts

  • The consent agreement is a binding document registered with the Competition Tribunal.
  • Both Abbott and St. Jude are global cardiovascular medical device companies headquartered in the United States with Canadian distribution centres located in Ontario.
  • Given the global nature of the parties’ operations, the Bureau cooperated with competition authorities in the United States and the European Union during this review.

Related Information

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