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Desperate for relief after years of agony, Jim Taft listened intently as his pain management doctor described a medical device that could change his life. Taft's stimulator failed soon after it was surgically implanted. For years, medical device companies and doctors have touted spinal-cord stimulators as a panacea for millions of patients suffering from a wide range of pain disorders, making them one of the fastest-growing products in the $400 billion medical device industry.
Moody's Investors Service ("Moody's") today upgraded Abbott Laboratories' ("Abbott") senior unsecured rating to Baa1 from Baa2. "The upgrade reflects the company's continued progress deleveraging since the 2017 acquisitions of St Jude Medical and Alere," stated Scott Tuhy, a Senior Vice President at Moody's. Moody's expects that Abbott's debt/EBITDA will approach 3 times by the end of 2018.