The company was accused of hiding serious health risks related to implantation of its transvaginal surgical mesh products.
The deal involves an upfront cash payment of $925 million, followed by a potential $300 million commercial milestone payment.
All commercial, clinical, R&D and manufacturing activities surrounding the product will end.
The company developed the device as an alternative to reusable duodenoscopes, enabling the use of a new and sterile product for each procedure.
Overall activity in deals jumped 11% in North America.
Manufacturers of the surgical mesh devices have not provided reasonable assurances of safety and effectiveness, according to the agency.
The companies are finally putting to bed all outstanding patent disputes.
The company continues to drive global expansion by investing in high growth segments and expanding its innovation pipeline to new markets.
The $435-million deal is part of the company’s commitment to being a leader in products for transcatheter aortic valve implantation.
The company is performing well across all business units and geographies.