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What's Next for Abbott in IVD?

Abbott and GE Healthcare broke off their $8.13 billion deal for Abbott's diagnostics and point-of-care businesses. The difficulty of delivering something so heavily integrated into Abbott appears to have surprised both sides. It's unlikely Abbott will seek another buyer and it is poised to make new investments in diagnostics. GE is also likely to continue pursuing more targeted acquisitions in diagnostics including, like Abbott, in molecular testing.

On July 11, Abbott Laboratories Inc. and the GE Healthcare division of General Electric Co. told the world that their $8.13 billion all-cash deal to transfer Abbott Diagnostics, Abbott’s immunoassay, clinical chemistry, and hematology businesses (known collectively as ADD) and Abbott Point of Care, its point-of-care (POC) testing business, was off. [See Deal] And if Abbott’s account of the break-up--for which it will not receive a fee from GE--is the whole story, it’s unlikely that it will be looking for another buyer for those businesses.

"There were literally thousands of transition services agreements that the parties were going to have to enter into," explains Ed Michael, newly appointed EVP, Diagnostics. Abbott installed Michael, a lawyer...

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