St. Jude Medical, Inc. has completed its acquisition of CardioMEMS, Inc., developer of the CardioMEMS™ HF System. The acquisition was completed on May 30, 2014.
Background
The CardioMEMS HF System uses a miniaturized, wireless monitoring sensor that is implanted in the pulmonary artery. St. Jude tells us it is the first and only FDA-approved heart failure monitoring device proven to significantly reduce hospital admissions when used by physicians to manage heart failure.
The CardioMEMS HF System allows clinicians to stabilize pulmonary artery pressures by proactively managing medications and other treatment options while also providing an early indication of worsening heart failure. In so doing, St. Jude claims it can improve heart failure patients’ quality of life, and reduce economic risks for hospitals and payers.
St. Jude Medical will now begin its strategic launch of the CardioMEMS HF System in the U.S.
Company comments
Commenting on the acquisition, St. Jude Medical Chairman, President and Chief Executive Officer Daniel J. Starks said, “St. Jude Medical’s acquisition of CardioMEMS shows our commitment to providing innovative medical device solutions that reduce the burden of complex diseases like heart failure, both on patients and health care systems. The CardioMEMS HF System achieves this goal by setting a new treatment paradigm for heart failure that reduces hospitalizations and improves the quality of life for patients.”
Source: St. Jude Medical, Inc., Business Wire
published: June 3, 2014 in: Cardio, Mergers and Acquisitions, St Jude