The deal also includes potential future payments based on achieving performance milestones.

The acquisition will allow Abbott to enter into the $3bn worth catheter-based electrophysiology market.

Topera has developed a diagnostic catheter and mapping software, or rotor identification system, which allows physician to identify and target the specific areas of a person’s heart that are perpetuating atrial fibrillation.

The rotor system features RhythmView workstation and the FIRMap diagnostic catheter, which helps physicians to identify and locate rotors, the specific areas within the heart acting as a sustaining mechanism for atrial fibrillation.

RhythmView workstation and FIRMap diagnostic catheter obtained US FDA and CE mark approval in 2013.

Abbott has also obtained the right to acquire Advanced Cardiac Therapeutics (ACT), in a separate transaction.

ACT has involved in developing an ablation catheter to improve the safety and effectiveness of ablation procedures.
Terms of the transaction were not disclosed.

Abbott medical devices executive vice-president John Capek said: "There is significant room to use advanced rotor identification technologies to improve the success rate and reduce the need for multiple ablation procedures, and thus improve the health of people with atrial fibrillation.

"The Topera acquisition and our agreement with ACT provide a foundational entry into the large, high-growth electrophysiology market, with differentiated technologies that can transform the way physicians treat people with complex heart rhythm disorders."

Michael Pederson will be the head of Abbott’s electrophysiology business. He served as president and CEO of medical device company VytronUS.

Image: Abbott factory at Cootehill, County Cavan. Photo: courtesy of Jonathan Billinger.