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Abiomed history
Abiomed company history timeline
In 1982, surgeon William DeVries implanted the Jarvik-7 in a retired dentist named Barney Clark, for whom a transplant was not a medical option.
Applied Biomedical elected to husband its money, relying on NIH research grants and a private investment group, and developing other products to sell while technology advanced far enough to make an implantable artificial heart a reality. It developed the Bi-Ventricular Support System 5000 (the BVS5000) and began selling it in Europe in 1987.
In all, NIH awarded Abiomed four national grants totaling $20 million. It also continued to seek out research grants, receiving in 1988 a five-year, $5.6 million NIH contract to develop an artificial heart in collaboration with the Texas Heart Institute.
In 1989, Abiomed received its first patent, which covered the hydraulic pumping system key to its concept for an artificial heart.
To consolidate its dental business, a subsidiary named Abiodent was formed in 1990.
In the fall of 1993, Abiomed and its partner, the Texas Heart Institute, were only one of three groups to be awarded contracts by the National Heart, Lung, and Blood Institute to complete the final development of a battery-powered heart.
1994: The National Institutes of Health (NIH) selects company to receive funding for final stage of artificial heart development.
To meet the demands of completing its artificial heart, Abiomed added staff, essentially doubling in size by the fall of 1997.
In July 2001, AbioCor became the first artificial heart successfully implanted in a patient, where it pumped more than 20 million times.
The company also announced that it planned to have a smaller model of the AbioCor, suitable for all adults, ready for testing by 2004.
In 2004, Michael R. Minogue became president and CEO of Abiomed.
The AbioCor won FDA approval in 2006 for patients who are near death and do not qualify for a heart transplant.
In July 2014, Abiomed acquired German heart pump maker ECP in a deal worth up to $30 million.
In 2016, the company’s headcount rose to 1,000, its revenue climbed to $330 million and they more than doubled the space of their headquarters with a massive expansion project.
In May 2018, Abiomed was added to the S&P 500 index.
In April 2020, Abiomed acquired Breethe, developer of a novel extracorporeal membrane oxygenation (ECMO) system.
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Abiomed competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Boston Scientific | 1979 | $16.7B | 36,000 | 906 |
| Stryker | 1941 | $22.6B | 43,000 | 2,135 |
| NuVasive | 1997 | $1.2B | 2,800 | 31 |
| Gilead Sciences | 1987 | $28.8B | 11,800 | 646 |
| Ethicon | 1915 | $4.9B | 11,000 | - |
| Johnson & Johnson | 1886 | $88.8B | 134,500 | 1,845 |
| Hospira | 2004 | $4.5B | 19,000 | - |
| Sanofi Genzyme | 1981 | $4.6B | 12,000 | - |
| Merck | 1891 | $64.2B | 74,000 | 1,898 |
| Analogic | 1967 | $486.0M | 1,500 | 55 |
Abiomed history FAQs
Zippia gives an in-depth look into the details of Abiomed, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Abiomed. The employee data is based on information from people who have self-reported their past or current employments at Abiomed. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Abiomed. The data presented on this page does not represent the view of Abiomed and its employees or that of Zippia.
Abiomed may also be known as or be related to ABIOMED Inc, Abiomed, Abiomed Inc. and Abiomed, Inc.