Deals
St. Jude Buys Nanostim as Pacemaker Gets EU Approval
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St. Jude Medical Inc. purchased Nanostim Inc. for $123.5 million and said the company’s core technology, a tiny wireless pacemaker implanted entirely inside the heart, won European Union approval.
St. Jude, a maker of heart-rhythm devices, invested in Nanostim in May 2011, gaining exclusive acquisition rights. The device maker said in February that it would buy closely held, Milpitas, California-based Nanostim by year’s end. St. Jude may pay an extra $65 million if the technology hits additional regulatory and sales goals, the St. Paul, Minnesota-based company said today in a statement.