ABBOTT LABORATORIES acquired i-STAT Corporation for $15.35 per share in cash (approximately $392 million), a transaction completed in January 2004, structured as all cash (tender offer and merger).
i-STAT Corporation operates in Diagnostics — point of care testing, is based in East Windsor, New Jersey, USA. i-STAT is the handheld point-of-care platform at the core of Abbott's with-patient blood testing business. The prescription device runs a wide range of blood tests from just two or three drops of a sample and returns lab-quality results in a matter of minutes, letting clinicians test wherever the patient is rather than sending samples to a central lab. Abbott reports the technology is used across a large share of U.S. hospitals, from the ICU and operating room to radiology, and it anchors the company's Point of Care diagnostics franchise, later modernized as the i-STAT Alinity system.
Adds handheld point-of-care diagnostic testing to Abbott's diagnostics portfolio.
Established Abbott in handheld point-of-care testing, a long-running growth platform (Abbott i-STAT). Became Abbott Point of Care (i-STAT)
Advisory firms were not disclosed for this transaction.