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St. Jude Medical, Inc. (STJ)

  • Mon, Apr. 20, 1:07 PM
    • St. Jude Medical (STJ +0.8%) exercises its option to acquire Menlo Park, CA-based Spinal Modulation for $175M plus additional payments based on FDA clearance of the Axium Neurostimulator System and the achievement of certain revenue targets.
    • The company has had a relationship with Spinal Modulation since January 2013, when it secured exclusive rights to distribute Axium in ex-U.S. territories. It also made a $40M equity investment in the intraspinal neuromodulation therapy firm.
    • St. Jude expects to complete the transaction this quarter.
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  • Jul. 14, 2014, 9:58 AM
    • St. Jude Medical (STJ -0.8%) enters into a definitive agreement to acquire privately-held NeuroTherm, a maker of interventional pain management therapies, for ~$200M in cash. The company expects to conclude the transaction in late Q3. NeuroTherm will add $10M - 15M to STJ's top-line sales in 2014.
    • NeuroTherm's technology utilizes radiofrequency ablation (RFA) to treat spinal pain.
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  • May 28, 2014, 12:58 PM
    • The FDA approval of CardioMEM's HF remote cardiac function monitoring system prompts St. Jude Medical (STJ +3.6%) to exercise its option to buy the company for $375M. It acquired the option in 2010 when it invested $60M in the firm for a 19% stake.
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  • Oct. 14, 2013, 7:11 AM
    • St. Jude Medical (STJ) has completed the acquisition of Nanostim, the developer of the world's only wireless pacemakers, for $123.5M upfront and a further $65M based on regulatory and sales goals.
    • St. Jude expects to soon introduce the pacemaker in select European markets after it received the EU's CE approval.
    • St. Jude first invested in Nanostim in 2011 and said in February this year that it intended to acquire the company. (PR)
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  • Aug. 19, 2013, 8:32 AM
    • St. Jude Medical (STJ) has bought Swiss-based Endosense for an initial $170M and up to $161M in milestone payments.
    • Endosense develops TactiCath, which allows physicians to monitor the amount of force they apply to the heart wall during a catheter ablation procedure to remove or stop a faulty electrical pathway.
    • "Force sensing is a tremendous advancement in cardiac ablation that will potentially improve safety and efficacy, likely becoming a standard for all cardiac ablations," says Dr Vivek Reddy of Mount Sinai Hospital in New York. (PR)
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Company Description
St Jude Medical Inc develops, manufactures and distributes cardiovascular medical devices for global cardiac rhythm management, cardiovascular, atrial fibrillation therapy areas and neurostimulation medical devices for the management of chronic pain.