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In late April 2016, Abbott Laboratories announced it would acquire St. Jude Medical for $25 billion ($46.75 in cash & 0.8708 shares of Abbott common stock, equating to an approximate value of $85 per share). [7] [8] On January 5, 2017, Abbott announced that it had completed its $25 billion acquisition of St. Jude Medical.
Ford joined Abbott in 1996 within its diabetes care business, later heading the company's medical device businesses, and Abbott's integration of St. Jude Medical in 2017, its largest acquisition at the time. [3] [4] He was named President and COO in October 2018. [5]
In November 2015 Pfizer announced it would acquire Allergan, plc for $160 billion ($206 billion, adjusted for inflation). However, this deal was cancelled in April 2016 due to new US tax inversion rules.
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St. Jude's Hospital was publicly dedicated on May 11, 1957, with 2000 spectators in attendance as well as dignitaries including Congressman James B. Utt and Cardinal James McIntyre, Archbishop of Los Angeles.
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