Abbott Laboratories (NYSE:ABT) has made the progressive move to acquire St Jude Medical Inc (NYSE:STJ). It made the announcement recently terming it as one of their greatest developmental strategies and if all goes well, they will be able to rise higher in terms of business success.
As a matter of fact, Abbott Laboratories has over the years looked forward to such a moment when it could actually catapult to a dominant position in all areas of the cardiovascular device market which according to some close sources is at the moment valued at ~$30 billion.
While speaking to a number of top news reporters some time back, one of the top company executives working with St. Jude Medical made the revelation that they had added a strong portfolio that consisted of devices considered essential in the treatment of atrial fibrillation, chronic pain, structural heart issues and heart failure that will go a long way complementing Abbott Laboratories’ portfolio. This will of course be in the mitral valve and coronary intervention disease areas.
When making their analysis in regards to Abbott Laboratories and its perceived future, a number of top analysts went ahead to state that the acquisition of St. Jude Medical would help the company a huge deal. They predicted that indeed it would do much to help Abbot’s stock move higher.
It goes without saying that this particular strategic acquisition will help Abbott Laboratories rise higher in terms of business success and thus be able to pose strong competition to the rest of the top medical device players such as Thermo Fisher Scientific, Medtronic and Boston Scientific as well.
However, let’s face it once and for all. Rising to the top is never easy for any company and it takes time and dedication as well as implementing the right most appropriate strategies.
While addressing a press conference recently, one of the top officials working with Abbott Laboratories revealed that they had not been spared when it came to coming heads on with the wide range of challenges that come about on the way to achieving business success. But he expressed great optimism in the fact t that the new move would help them a lot to climb the ranks and be able to generate higher revenues.