December 27, 2016 / 7:31 PM / 8 months ago

Abbott gets U.S. antitrust approval to buy St. Jude Medical

WASHINGTON, Dec 27 (Reuters) - Healthcare company Abbott Laboratories has won U.S. antitrust approval for its proposed purchase of medical device maker St. Jude Medical Inc , the Federal Trade Commission said on Tuesday.

Abbott has agreed to divest two medical device businesses to settle FTC charges that the $25 billion acquisition of St. Jude would likely be anticompetitive, the FTC said in a statement.

Abbott has said the deal would help it compete against larger rivals Medtronic Plc and Boston Scientific Corp as hospitals look to cut the number of their suppliers. (Reporting by Mohammad Zargham; Editing by Leslie Adler)

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