Deals
St. Jude to Acquire Implant Maker Thoratec for $3.4 Billion
This article is for subscribers only.
St. Jude Medical Inc. agreed to buy Thoratec Corp., a maker of implants that aid failing hearts, for $3.4 billion in cash, bolstering its push into new and faster-growing markets as sales stagnate for its established products.
The offer of $63.50 a share represents a 40 percent premium over Thoratec’s average trading price in the 30-day period that ended last week, the companies said Wednesday in a statement. The deal will add to St. Jude’s adjusted earnings beginning next year, the company said.