St. Jude Medical Completes Acquisition of NeuroTherm
ST. PAUL, Minn. -- August 7, 2014
St. Jude Medical, Inc. (NYSE:STJ), a global medical device company, today
announced it has completed its acquisition of privately held NeuroTherm, Inc.,
a manufacturer of interventional pain management therapies.
“Over the last year, we have launched two novel neuromodulation products, made
a strategic investment in Spinal Modulation, and initiated two multi-center,
randomized clinical studies to evaluate alternatives for patients living with
chronic pain,” said Michael T. Rousseau, St. Jude Medical chief operating
officer. “This acquisition further demonstrates St. Jude Medical’s commitment
to our chronic pain program and our steadfast focus on improving patient
St. Jude Medical is the only medical device manufacturer with a chronic pain
product portfolio that offers both radiofrequency ablation for spinal pain and
spinal cord stimulation. The company now has a comprehensive range of
radiofrequency products available worldwide for interventional pain
management, including generators, electrodes and needles.
BofA Merrill Lynch served as financial advisor and Gibson, Dunn & Crutcher LLP
as legal counsel to St. Jude Medical. Piper Jaffray & Co. acted as financial
advisor and Calfee, Halter & Griswold LLP served as legal counsel to
About St. Jude Medical
St. Jude Medical is a global medical device manufacturer dedicated to
transforming the treatment of some of the world’s most expensive epidemic
diseases. The company does this by developing cost-effective medical
technologies that save and improve lives of patients around the world.
Headquartered in St. Paul, Minn., St. Jude Medical has four major clinical
focus areas that include cardiac rhythm management, atrial fibrillation,
cardiovascular and neuromodulation. For more information, please visit sjm.com
or follow us on Twitter @SJM_Media.
This news release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 that involve risks and
uncertainties. Such forward-looking statements include the expectations, plans
and prospects for the Company, including potential clinical successes,
anticipated regulatory approvals and future product launches, and projected
revenues, margins, earnings and market shares. The statements made by the
Company are based upon management’s current expectations and are subject to
certain risks and uncertainties that could cause actual results to differ
materially from those described in the forward-looking statements. These risks
and uncertainties include market conditions and other factors beyond the
Company’s control and the risk factors and other cautionary statements
described in the Company’s filings with the SEC, including those described in
the Risk Factors and Cautionary Statements sections of the Company’s Annual
Report on Form 10-K for the fiscal year ended December 28, 2013 and Quarterly
Report on Form 10-Q for the fiscal quarter ended June 28, 2014. The Company
does not intend to update these statements and undertakes no duty to any
person to provide any such update under any circumstance.
St. Jude Medical, Inc.
J.C. Weigelt, 651-756-4347
Micki Sievwright, 651-756-4615
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