St. Jude of­fers $3.4 bil­lion for heart fail­ure de­vice firm

Modern Healthcare - - REGIONAL NEWS - —Beth Kutscher

St. Jude Med­i­cal has forged a $3.4 bil­lion deal to ac­quire car­dio­vas­cu­lar de­vice com­pany Tho­r­atec to di­ver­sify its port­fo­lio of heart fail­ure dis­ease-man­age­ment prod­ucts.

The deal comes as St. Paul, Minn.-based St. Jude re­ports lag­ging sales in its car­diac rhythm-man­age­ment busi­ness, its largest by rev­enue. The deal also builds on St. Jude’s May 2014 ac­qui­si­tion of Car­dioMEMS, which makes a wire­less tech­nol­ogy placed in the pul­monary artery to mea­sure car­diac per­for­mance.

St. Jude will pay $63.50 per share for Tho­r­atec in the all-cash trans­ac­tion. Pleasan­ton, Calif.-based Tho­r­atec man­u­fac­tures the HeartMate ven­tric­u­lar-as­sis­tance de­vice for heart fail­ure pa­tients.

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