Abbott News
3 articles
growth-positive
Abbott expands medical IT horizons
Abbott Laboratories acquired Israeli company Starlims for $123 million in 2009. Starlims operates in the medical IT sector and specializes in managing computing systems in research laboratories. Abbott plans to use Starlims systems to enter the clinical laboratory management market, which is worth billions of dollars. The company aims to provide integrated solutions for analyzing patient samples in real time. Abbotts VP, Dave Champagne, praises Starlims for being one of the first companies to operate in the cloud and highlights the advantage of having equipment and computers that correspond naturally. Abbott recently signed a contract with the Maccabi Health Fund to install the system in their main laboratory and the Assuta Medical Centers network.
AcquisitionPartners
growth-positive
Abbott Labs seeks the next best thing in Israel
Abbott Laboratories has entered into a three-year collaboration with the Weizmann Institute of Science in Israel. The global pharmaceutical company will fund research programs in select areas of medicine through Yeda Research and Development Company, the technology transfer arm of the institute. Abbott is particularly interested in Israeli advances for treating cancer, Alzheimer’s, schizophrenia, and kidney diseases, as well as diagnostic instruments and devices. This collaboration marks the first agreement of its kind between a big pharma company and an Israeli research facility. Abbott has previously shown interest in Israeli ingenuity, having acquired Starlims Technologies in 2010. The collaboration aims to develop affordable home diagnosis kits for the developing market. Abbott Laboratories employs about 91,000 people and has a valuation of $39 billion.
PartnersInvestment
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After StarLIMS, Abbott seeks more Israeli acquisitions
Abbott Laboratories Inc. is planning to acquire more Israeli companies after its acquisition of StarLIMS Technologies Ltd. Abbott has already spent over $7 billion on acquisitions in 2009. The most recent acquisition was StarLIMS, a laboratory information management systems (LIMS) company, for $123 million. Abbotts EVP diagnostics, Edward Michael, expressed interest in expanding in Israel through acquisitions, investments, and cooperation agreements. He mentioned pharmaceuticals, nutrition, medical devices, and diagnostics as potential areas of interest. Abbott already has a cooperation agreement with BioView Ltd., an Israeli company that develops automated testing systems. Abbott has a representative office in Israel and employs over 100 people there. The company is focused on growing its presence in Israel.
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