Terumo Corporation (TSE: 4543) announced today that Terumo, Abbott and St. Jude Medical, Inc. have reached an agreement in principle to acquire certain products owned by St. Jude Medical and Abbott for a total of $1.12 billion. The transaction is subject to completion of antitrust regulatory approvals and Abbott's acquisition of St. Jude Medical. Terumo, Abbott and St. Jude Medical are bound by the terms of an exclusivity agreement.​

The divestiture will include St. Jude Medical's Angio-Seal™ and Femoseal™ vascular closure products and Abbott's Vado™ Steerable Sheath. The Angio-Seal™ product lines offer healthcare providers an alternative to manual compression for sealing puncture sites on patients who have undergone a catheterization procedure.

Terumo, Abbott and St. Jude Medical have negotiated an acquisition agreement, which is being reviewed by antitrust authorities in connection with Abbott's announced acquisition of St. Jude Medical. The impact of the acquisition on Terumo's business performance will be examined.