ABBOTT
PARK, Ill., Sept. 22,
2023 /PRNewswire/ -- Abbott (NYSE: ABT) today
announced it has completed the acquisition of Bigfoot Biomedical, a
leader in developing smart insulin management systems for people
with diabetes.
The transaction expands Abbott's presence in diabetes care,
building on its world-leading FreeStyle Libre® portfolio
of continuous glucose monitoring technology and furthering the
company's efforts to develop connected solutions for making
diabetes management even more personal and precise.
Pursuant to the terms of the merger agreement, upon completion
of the acquisition, Bigfoot became a wholly owned subsidiary of
Abbott. Financial terms were not disclosed.
About Abbott
Abbott is a global healthcare leader that
helps people live more fully at all stages of life. Our portfolio
of life-changing technologies spans the spectrum of healthcare,
with leading businesses and products in diagnostics, medical
devices, nutritionals and branded generic medicines. Our 115,000
colleagues serve people in more than 160 countries.
Connect with us at www.abbott.com, on LinkedIn
at www.linkedin.com/company/abbott-/, on Facebook
at www.facebook.com/Abbott and on Twitter
@AbbottNews.
— Private Securities Litigation Reform Act of
1995 —
A Caution Concerning Forward-Looking
Statements
Some statements in this news release may be forward-looking
statements for purposes of the Private Securities Litigation Reform
Act of 1995. Abbott cautions that these forward-looking statements
are subject to risks and uncertainties that may cause actual
results to differ materially from those indicated in the
forward-looking statements, including, but not limited to, the
ability of Abbott to successfully integrate Bigfoot Biomedical's
operations; and the ability of Abbott to implement its plans,
forecasts and other expectations with respect to Bigfoot
Biomedical's business after the completion of the transaction and
realize expected synergies. Economic, competitive, governmental,
technological and other factors that may affect Abbott's operations
are discussed in Item 1A, "Risk Factors" in our Annual Report on
Form 10-K for the year ended Dec. 31,
2022, and are incorporated herein by reference. Abbott is
providing the information in this news release as of this date.
Abbott undertakes no obligation to release publicly any revisions
to information included in this news release or any forward-looking
statements as a result of new information, subsequent events or
developments, except as required by law.
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SOURCE Abbott