Friday, September 11, 2009

Evalve Acquired By Abbott

Menlo Park-based Evalve, a developer of minimally invasive cardiac valve repair technology, has been acquired by Abbott. Abbott said it would pay $320M in cash plus milestone payments, worth up to a total of $410M, for Evalve. Evalve was founded in 1999, and has over 100 employees; the firm is venture backed by ABS Ventures, Delphi Ventures, New Enterprise Associates, Split Rock Partners, as well as by Abbott.