Shares of Abiomed (NASDAQ: ABMD), a maker of medical devices that improve heart function, soared after the company announced the acquisition of a company that has developed a portable artificial lung and also reported better-than-expected earnings for its fiscal fourth quarter. In addition, the company reported that its implantable heart pump had been successful in helping a pair of critically ill COVID-19 patients survive the disease.
Abiomed has acquired Breethe, a private company that has developed a compact extracorporeal membrane oxygenation (ECMO) system -- an artificial lung for patients suffering from cardiogenic shock or respiratory failure. Abiomed believes the acquisition will complement its Impella heart pump product by supporting heart failure patients whose lungs can no longer provide sufficient oxygenation, including patients with viral diseases such as COVID-19. Terms of the deal were not released.
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