Overall, the report indicates Abbott's remarkable revenue growth. It provides reliable test results in just minutes. This FDA-approved system delivers lab-accurate testing for Blood Gases, Electrolytes, Chemistries, Coagulation, Hematology, Glucose, and Cardiac Markers (cTnI). When it comes to point-of-care, sales growth in the quarter was driven by continued adoption of Abbott's i-STAT handheld system in the US and strong growth internationally. It was also noted that the firm is seeing continued strong growth in infectious disease testing, which is its core area of focus in the molecular diagnostics market. The CEO of Abbott says, "Point-of-care testing remains an attractive growth segment within the in vitro diagnostics market, and the acquisition of Alere will significantly expand our diagnostics presence and leadership in that space." Based on the amended terms, the company will pay $51 per share to acquire Alere for a new total price of about $5.3 billion, which is less than the original purchase price of around $5.8 billion proposed in February 2016. Abbott had agreed to amend the existing terms of an agreement to acquire Alere. EAST WINDSOR, N.J., July 26 /PRNewswire-FirstCall/ - Abbott announced today that it has received 510 (k) clearance from the U.S. Point-of-care revenues were $135 million, up 8 percent from $125 millionĪbbott's acquisition of Alere was in the news recently.Molecular revenues were $112 million, up 4 percent from $108 million.Core laboratory revenues were $911 million, up 3 percent from $885 million in the prior-year quarter.However, diagnostics sales of $1.16 billion are reported, which is up 4 percent from $1.12 billion in Q1 2016.Īccording to the report, within Diagnostics. In general, Abbott has reported overall Q1 revenues of $6.34 billion, which is 30 percent more on a reported basis from Q1 last year. This amazing growth is driven by considerable increase in core laboratory and point-of-care sales. The company recently reported that the first quarter sales in its diagnostics business grew 4% year over year. For i-STAT test cartridge information and intended use, refer to individual product pages or the cartridge information (CTI/IFU) in the i-STAT Support area.Ībbott - A Leader in Rapid Point-of-Care Diagnostics.Abbott, a global healthcare company is dedicated to providing a broad range of innovative instrument systems and tests for hospitals, reference labs, physician offices and clinics. Check with your local representative for availability in specific markets. Not all products are available in all regions. GDPR Statement | Declaration for California Compliance Law. Any person depicted in such photographs is a model. The products listed here include some of the newest medical technology available. Photos displayed are for illustrative purposes only. Your use of this website and the information contained herein is subject to our Website Terms and Conditions and Privacy Policy. The products and information contained herewith may not be accessible in all countries, and Abbott takes no responsibility for such information which may not comply with local country legal process, regulation, registration and usage. This website is governed by applicable U.S. No use of any Abbott trademark, trade name, or trade dress in this site may be made without the prior written authorization of Abbott, except to identify the product or services of the company. Unless otherwise specified, all product and service names appearing in this Internet site are trademarks owned by or licensed to Abbott, its subsidiaries or affiliates.
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