How it started
History
Abiomed was founded in Danvers, Massachusetts by David M. Lederman in 1981 as Applied Biomedical Corporation. That year, the company commenced the development of an artificial heart. Funded by federal research grants, Lederman partnered with The Texas Heart Institute to develop the AbioCor, a grapefruit-sized electromagnetic device with an internal battery that completely replaces the heart without wires or tubes passing through the skin. In July 2001, AbioCor became the first artificial heart successfully implanted in a patient, where it pumped more than 20 million times. Fourteen of the AbioCor devices were implanted, during clinical trials from 2001 to 2004, with the longest-living recipient surviving 512 days. The AbioCor won FDA approval in 2006 for patients who are near death and do not qualify for a heart transplant.
In 2004, Michael R. Minogue became president and CEO of Abiomed. In 2005, Abiomed purchased ventricular assist device company Impella CardioSystems AG of Aachen, Germany, maker of the Impella heart pump, developed by Thorsten Siess, who is now the chief technology officer at Abiomed. After Abiomed acquired Impella the company's focus shifted from heart replacement to heart recovery.
In July 2014, Abiomed acquired German heart pump maker ECP in a deal worth up to $30 million. The deal included a nearly $2.8 million buyout of AIS GmbH Aachen Innovative Solutions, which owns some of the patents licensed to ECP.
In May 2018, Abiomed was added to the S&P 500 index. During the S&P's rise from 2000 to 3000, Abiomed was the index's top performing stock.
In 2018, Abiomed built a $17 million Innovation Center to facilitate research and product development at its headquarters in Danvers. The 29,800-square-foot facility features laboratories for blood, optical, software, mechanical and electrical research, plus a production line.
From Wikipedia’s article on AbioMed, shared under CC BY-SA 4.0.3