St. Jude to Acquire Velocimed

In a transaction designed to enlarge the company's line of interventional cardiology devices, St. Jude Medical, Inc. (St. Paul, MN, USA) has agreed to acquire Velocimed, LLC (Maple Grove, MN, USA) for U.S.$82.5 million, less an estimated $8.5 million upon closing, plus certain contingent payments.

Velocimed has developed three product platforms. One platform is the Premere patent foramen ovale (PFO) closure system. A patent foramen ovale is a structural defect of the heart that has been associated with an elevated risk of stroke. The second product platform is the Proxis proximal embolic protection device, used to minimize the risk of heart attack or stroke if plaque or other debris is dislodged into the blood stream during interventional cardiology procedures. The third product platform is the Venture guidewire control catheter for accessing difficult anatomy and crossing total occlusions in interventional catheterization procedures. This device has received the CE Mark.

"In July 2004, St. Jude Medical announced the formation of the Cardiology Division,” noted Paul R. Buckman, president of St. Jude's Cardiology Division. "With this transaction, St. Jude Medical gains immediate access to three product platforms that serve growing segments of the interventional cardiology market and that we are particularly interested in bringing to our customers.”





Related Links:
St. Jude Medical
Velocimed