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St. Jude medical

St. Jude Medical, Inc. ( Rus. St. Jude Medical ) - a manufacturer of medical equipment, with headquarters in Little Canada, Minnesota, USA, in the suburbs of St. Paul. The company has production facilities around the world and more than 20 types of activities. The company's products are sold in more than 100 countries [2] [3] . The main markets of the company: USA, Europe (including Russia), Latin America and the Asia-Pacific region. The company was named in honor of the Holy Apostle Thaddeus [3] .

St. Jude medical
St. Jude Medical logo.png
Type ofSubsidiary company
Exchange listing
Base1976
Abolished2017
Reason for Abolitionabsorbed by Abbott Laboratories
FoundersManuel Villafanya
Location USA : Little Canada
Key figuresDaniel Starks (Chairman of the Board)
Michael Russo ( CEO )
IndustryMedical equipment
ProductsPacemakers
Implantable devices for neuromodulation
Equity▼ $ 4.042 billion (2015) [1]
Turnover▼ $ 5.541 billion (2015) [1]
Operating profit▼ $ 1.03 billion (2015) [1]
Net profit▼ $ 880 million (2015) [1]
Assets▲ $ 13.064 billion (2015) [1]
Number of employees18 thousand (2015) [1]
Parent companyAbbott laboratories
Affiliated companies
AuditorErnst & Young LLP
Sitesjm.com

St. Jude Medical was founded in 1976 and became public in 1977 [3] [4] . Since 2010, Fortune 500 has been included in the list of 500 largest US companies [5] . The president and chief executive officer of the company is Michael T. Russo [6] .

At the beginning of 2017 Jude Medical was acquired by Abbott Laboratories for $ 25 billion [7] .

Content

History

Early History

In 1972, bicuspid artificial heart valves were developed at the University of Minnesota under the leadership of Dr. Demeter Nicoloff [3] [4] . To further develop and promote the project in 1976, Manuel Villafaña, founded St. Jude Medical, after the successful sale of its first company Cardiac Pacemakers, Inc [4] .

In February 1977, the company became public and already in October of that year, Dr. Nicoloff implanted the patient with the first St Jude Medical artificial heart valve [4] . The new valve was coated with pyrolytic graphite , which prevented unwanted blood coagulation [3] [4] .

In 1981, LaVern Reese, COO St. Jude Medical becomes executive director of the company [8] and soon decides to start developing its own carbon coating for valves [3] . This decision led to legal disputes with CarboMedics, which at that time was the only carbon coating supplier for St. Jude Medical [9] . Against the backdrop of ongoing trials [3] [10] in 1984, Reese was removed from management and in 1985 he was replaced by Lawrence Lemkul as President and CEO of St. Jude Medical [11] . After a change of leadership Jude Medical settled the lawsuit with CarboMedics and both companies entered into an agreement allowing St. Jude Medical will continue to develop and produce limited quantities of its own carbon coating [3] .

In 1986, St. Patrick’s first heart valve Jude Medical with its own carbon coating technology was implanted into the human body in Germany [3] . Later that year, St. Jude Medical expanded through the acquisition of BioImplant, a manufacturer of tissue heart valves [3] [12] .

1990s

The company established its international division located in Brussels in 1990. In April 1991, St. Jude Medical and Hancock Jaffe Laboratories form a joint venture with the Heart Valve Company to market the new tissue heart valves [13] [14] . The first joint valve was implanted into the patient in 1994 [13] .

In March 1993, Ronald Matricaria, the ex-president of the North American division of Eli Lilly & Company, replaced Lawrence Lemkul [15] .

Ronald Matricaria insisted on diversifying and expanding St. Jude Medical [3] . In June 1994, St Jude announced the acquisition of Pacesetter, Inc. for $ 500 million [16] , a division of Siemens AG and the second largest manufacturer of pacemakers in the world [16] .

In January 1996, St. Jude Medical acquired Daig Corporation, a cardiac catheter manufacturer for diagnostic and therapeutic purposes, for $ 425 million [17] . In the same month Jude Medical became the sole owner of the Heart Valve Company, acquiring a stake in Hancock Jaffe Laboratories [17] . In September 1996, St. Jude Medical acquired the Brazilian company Biocor Industria, specializing in the production of tissue heart valves [18] .

In 1997, St. Jude Medical acquired for $ 352 million the third largest manufacturer of implantable cardioverter defibrillators - Ventritex [19] .

In February 1999, St. Jude Medical acquires the Angio-Seal division of Tyco International [20] . Angio-Seal was involved in the production of collagen plugs to close defects in the walls of blood vessels [20] . Matricaria left St Jude's Executive Director in March 1999. [21] Instead, Terry Shepherd became the CEO of the company, while Matricaria retained the post of chairman of the St. Jude Medical [21] Matricaria retained chairmanship of the St. Jude Medical board. [21] .

2000s

In 2004, CEO St. Jude Medical Terry Shepherd resigns [22] . During his tenure as CEO, the company's share price increased by 277% [22] . The new president of the company becomes Daniel Starks, who in 1986-1996 served as chief executive officer of Daig Corporation and since 2001 worked at St. Jude Medical Operations Director [22] .

In January 2005, St. Jude Medical acquired Endocardial Solutions for $ 272 million [23] . Endocardial Solutions has been manufacturing diagnostic and therapeutic devices used to treat atrial fibrillation [23] . Later that year, St. Jude Medical acquired Advanced Neuromodulation Systems, the second largest manufacturer and supplier of medical devices for the treatment of chronic pain and neurological disorders [24] [25] . The deal amounted to $ 1.3 billion [24] .

In 2008, St. Jude Medical acquired the Israeli company MediGuide, which developed a technology for detecting medical devices inside the human body using small sensors used during medical procedures [26] .

2010s

In October 2010, St. Jude Medical acquired AGA Medical for $ 1.3 billion, specializing in the manufacture of medical devices for closing and repairing heart defects [12] [27] [28] . Also in 2010, St. Jude Medical acquired LightLab Imaging, a company that developed optical coherent tomography technology [29] .

In 2010, St. Jude Medical has invested in an option to acquire CardioMEMS Inc., which has developed a technology to remotely monitor pulmonary blood pressure in patients with heart failure. CardioMEMS Inc. was acquired in May 2014 [30] [31] .

In August 2012, St. Jude Medical is restructuring its activities [32] . The company reduced its four divisions to 2: implantable electronic systems and equipment for the cardiovascular system [32] . The company also centralized such departments as marketing and information technology [32] , while the company had to lay off 5% of its employees worldwide [32] .

In 2013, St. Jude Medical acquired Endosense, a Swiss company that developed a medical catheter with the function of measuring the pressure applied by a doctor to the patient’s heart wall during an ablation procedure [33] . The deal amounted to $ 130 million [33] .

In June 2013, St. Jude Medical has entered into a series of agreements under which the company invested in equity of Spinal Modulation, Inc. in the amount of $ 40 million [34] . In May 2015, the company completed the acquisition of Spinal Modulation, the developer of the Axium neurostimulation system [35] . St. Jude Medical acquired Nanostim Inc., a private company that developed miniature, non-driving pacemakers, for $ 123.5 million in October 2013 [36] . Soon approval was received for the sale of this system in Europe [36] [37] .

In July 2015, the company announced its intention to acquire the manufacturer of cardiology systems Thoratec Corporation for $ 3.4 billion [38] , and in October the transaction was completed [39] .

In September 2015, St. Jude Medical announced that Daniel Starks will resign, and on January 1, 2016, Michael Russo becomes President, CEO and member of the Board of Directors of St. Jude Medical, while D. Starks remained Executive Chairman of the Board of Directors. [6]


Purchase History

The following is an illustration of major mergers and acquisitions of St. Jude Medical and predecessors (not a complete list):

St. Jude medical


















St. Jude medical
(Founded 1976)






Pacesetter, Inc.
(1994)






Daig Corporation
(1996)






Heart valve company
(50% joint venture with Hancock Jaffe Laboratories' 1996)






Biocor industries
(1996)






Ventritex
(1997)






Tyco international
(Angio-Seal, 1999)






Endocardial solutions
(2005)






Advanced neuromodulation systems
(2005)






Mediguide
(2008)






AGA Medical
(2010)






LightLab Imaging
(2010)






CardioMEMS Inc.
(2014)






Endosense
(2013)






Spinal modulation
(2015)






Nanostim inc
(2013)






Thoratec corporation
(2015)




Apica Cardiovascular Limited
(2014)




Levitronix
(2011)




Getinge group
(2014)




Thermo cardiosystems
(2010)








Activity

St. Jude Medical manufactures implantable cardioverter defibrillators; pacemakers; electrophysiological catheters; equipment for closing vascular defects; heart mapping and imaging systems; imaging systems (optical coherence tomography; products of restoration of the heart structure; devices for neurostimulation [2] . The company’s activities are divided into two divisions: research and development; and production and supply [40]

The company has at its disposal six technology centers located in Brussels, Beijing, Tokyo, Austin, St. Paul and Silmar (California) [41] [42] [43] The centers are involved in the continuous training of doctors and provide the possibility of modeling medical procedures using equipment and St. Jude Medical [41] [42] .


Products

The company also manufactures ASSURA's line of implantable cardioverter defibrillators and cardiac resynchronization devices [44] [45] Both devices use four-pole electrode technology to stimulate the left side of the heart in several places [46] .

In 2013, the company began selling Ilumen Optis devices for the diagnosis and assessment of patients with coronary heart disease. [47] . The device uses the method of assessing the fractional reserve of blood flow to measure intra-arterial pressure and the technology of optical coherence tomography, which allows doctors to visually assess the lumen of blood vessels. [48]

Technology

MediGuide

St. Jude Medical manufactures the MediGuide real-time cardiac navigation and imaging system, which generates fluoroscopic images [49] [50] . In addition, the technology makes it possible to detect implantable devices using special sensors [49] [50] , and also reduces the patient’s radiation dose during cardiovascular interventions [49] [51] .

Nanostim

In October 2013, the company acquired and began developing Nanostim electrodeless pacemakers. The system consists of a miniature pacemaker implanted with a catheter in the heart [52] .

CardioMEMS

In June 2014 St. Jude Medical acquired and began developing the CardioMEMS HF system, a wireless pulmonary artery pressure monitoring (PAP) technology used to measure heart function. Clinical trials of CHAMPION [53] proved the effectiveness of the system, and hospitalization of patients with diseases of the cardiovascular system decreased by 37% [54] .

Notes

  1. ↑ 1 2 3 4 5 6 [www.sec.gov/Archives/edgar/data/203077/000020307716000013/stj20150102201610-k.htm Annual Report 2015 on SEC Filing Form 10-K] . St. Jude Medical. Date of treatment February 19, 2017.
  2. ↑ 1 2 St. Jude Medical, Inc. 10-K (neopr.) . Securities and Exchange Commission. Date of treatment March 6, 2014.
  3. ↑ 1 2 3 4 5 6 7 8 9 10 11 St. Jude Medical, Inc. (unspecified) . International Directory of Company Histories. Date of treatment March 6, 2014.
  4. ↑ 1 2 3 4 5 Terry Fiedler; Staff Writer . A perfectible heart; St. Jude Medical's mechanical heart valve is still the market standard 25 years after a Minnesota woman received the first implant in surgery at the U of M., Star Tribune (Mpls.- St. Paul) (October 3, 2002).
  5. ↑ Fortune 500: 445. St. Jude Medical , CNN Money. Date of treatment March 6, 2014.
  6. ↑ 1 2 St. Jude Medical Announces Leadership Transition Plan , BusinessWire (September 9, 2015). Date of treatment December 30, 2015.
  7. ↑ Diane Bartz. Abbott gets US antitrust approval to buy St. Jude Medical . Reuters (December 28, 2016). Date of treatment February 19, 2017.
  8. ↑ ST. JUDE MEDICAL ELECTS REES CHIEF, HENDRICKSON CHAIRMAN, The Wall Street Journal (September 9, 1981).
  9. ↑ St. Jude Medical Wins Court Order for Supply Of Heart-Valve Parts, The Wall Street Journal (October 12, 1984).
  10. ↑ Richard Gibson Staff Reporter of The Wall Street Journal . St. Jude Medical, Shelves Nearly Bare, Tries to Attract a New Chief Executive, The Wall Street Journal (January 14, 1985).
  11. ↑ St. Jude Medical Picks Lawrence Lehmkuhl As President and Chief, The Wall Street Journal (February 12, 1985).
  12. ↑ 1 2 St. Jude Medical, Inc. (unspecified) . Hoovers. Date of treatment April 14, 2014.
  13. ↑ 1 2 St. Jude bioprosthetic valve implanted., Reuters News (March 30, 1994).
  14. ↑ Edward A. Wyatt . The mugging of st Jude --- Why the Street's Wrong in Roughing Up the Stock, Barron's (August 31, 1992).
  15. ↑ MILT FREUDENHEIM . COMPANY NEWS; Lilly Executive Named Chief of St. Jude Medical, New York Times (March 23, 1993).
  16. ↑ 1 2 Steve Alexander; Staff Writer . The wait is over: St. Jude announces big acquisition // Fridley firm plans to buy pacemaker operations of Siemens AG for $ 500 million cash, Star-Tribune Newspaper of the Twin Cities Mpls.-St. Paul (June 29, 1994).
  17. ↑ 1 2 Hancock Jaffe Sells Heart Valve Stake, Los Angeles Times (January 7, 1996).
  18. ↑ St. Jude Medical Acquires Assets, The Wall Street Journal (September 24, 1996).
  19. ↑ Terry Fiedler; Staff Writer . St. Jude Medical drops its acquisition price for California-based Ventritex // Stock deal worth $ 352 million; acquiring defibrillator firm a good fit, giving St. Jude a presence in burgeoning market, Star-Tribune Newspaper of the Twin Cities Mpls.-St. Paul (April 1, 1997).
  20. ↑ 1 2 Terry Fiedler; Staff Writer . St. Jude buys vascular-seal company // $ 167 million deal makes it leader in fast-growing market, Star-Tribune Newspaper of the Twin Cities Mpls.-St. Paul (February 6, 1999).
  21. ↑ 1 2 3 Thomas M. Burton Staff Reporter of The Wall Street Journal . St. Jude Medical's CEO to Step Down In the Wake of Disappointing Results, The Wall Street Journal (March 3, 1999).
  22. ↑ 1 2 3 Janet Moore; Staff Writer . A STEADY PULSE; St. Jude Medical's CEO is retiring, but all bets are on a smooth transition, Star-Tribune (December 11, 2003).
  23. ↑ 1 2 Janet Moore; Staff Writer . St. Jude completes Endocardial acquisition, Star-Tribune (January 14, 2005).
  24. ↑ 1 2 Barnaby J. Feder . With the Spotlight on a Rival, St. Jude Medical Shines, The New York Times (January 13, 2006).
  25. ↑ US heart-device maker to acquire smaller rival, The New York Times (October 18, 2005).
  26. ↑ Jon Kamp . Corporate News: St. Jude Is Set to Pay $ 533 Million For Two Medical-Tech Companies, The Wall Street Journal (December 23, 2008).
  27. ↑ CHEN MAY YEE; STAFF WRITER . ST. JUDE BUYS AGA MEDICAL // $ 1.1 billion deal is expected to give St. Jude a lead in treating structural heart disease., STAR TRIBUNE (Mpls.- St. Paul) (October 19, 2010).
  28. ↑ Jon Kamp . St. Jude in Deal for AGA Medical, The Wall Street Journal Online (October 19, 2010).
  29. ↑ JANET MOORE; STAFF WRITER . St. Jude to spend $ 90 million to buy imaging company, STAR TRIBUNE (Mpls.-St. Paul) (May 20, 2010).
  30. ↑ David Morgan . FDA panel votes against CardioMEMS device , Reuters (December 8, 2011). Date of appeal September 25, 2014.
  31. ↑ St. Jude Medical Completes Acquisition of CardioMEMS ( Neopr .) (June 2, 2014). Date of appeal September 25, 2014.
  32. ↑ 1 2 3 4 James Walsh . St. Jude lays off 300, reorganizes // Analysts saw a connection to what St. Jude will have to pay in a new medical device tax. Officials said the goals are broader., STAR TRIBUNE (Mpls.-St. Paul) (August 31, 2012).
  33. ↑ 1 2 PATRICK KENNEDY . St. Jude buys Swiss med tech company // St. Jude will pay $ 170 million for Endosense and could pay more if performance targets are met., STAR TRIBUNE (Mpls.- St. Paul) (August 20, 2013).
  34. ↑ Tess Stynes. St. Jude Exercises Option to Acquire Spinal Modulation (neopr.) . Wall Street Journal (April 20, 2015). Date of treatment December 30, 2015.
  35. ↑ St. Jude Medical Completes Acquisition of Spinal Modulation (neopr.) . HospiMedica International (May 17, 2015). Date of treatment December 30, 2015.
  36. ↑ 1 2 Cortez, Michelle . St. Jude Buys Nanostim as Pacemaker Gets EU Approval , Bloomberg News (October 14, 2013). Date of treatment May 17, 2014.
  37. ↑ Katharine Grayson . St. Jude backs lead-less pacemaker startup Nanostim , Minneapolis / St. Paul Business Journal. Date of treatment May 17, 2014.
  38. ↑ Harrison, Crayton . St. Jude to Acquire Implant Maker Thoratec for $ 3.4 Billion , Bloomberg (July 22, 2015).
  39. ↑ "St. Jude Medical Completes Acquisition of Thoratec . " Business Wire . October 8, 2015.
  40. ↑ James Walsh. St. Jude reorganizes its leadership (neopr.) . Star Tribune . Date of treatment April 28, 2014.
  41. ↑ 1 2 St. Jude Medical Expands Into Beijing, China (Neopr.) . Asian scientist . Date of treatment April 28, 2014.
  42. ↑ 1 2 St. Jude Medical advances China strategy, opens latest technology center (neopr.) . Med City News . Date of treatment April 28, 2014.
  43. ↑ Advanced Technology Centers (neopr.) . St. Jude Medical. Date of treatment April 28, 2014.
  44. ↑ Company roundup, STAR TRIBUNE (Mpls.-St. Paul) (June 25, 2013).
  45. ↑ Tachycardia; St. Jude Medical Announces FDA Approval of Assura (TM) Implantable Defibrillators with Features That Reduce Inappropriate Shocks, Politics & Government Week (May 24, 2012).
  46. ↑ Postoperative Performance of the Quartet Left Ventricular Heart Lead (neopr.) . Journal of Cardiovascular Electrophysiology. Date of treatment March 20, 2014.
  47. ↑ St. Jude Medical's Ilumien Optis 3-D PCI Optimization System Approved in Europe (Neopr.) . Cardiac Interventions Today. Date of treatment March 20, 2014.
  48. ↑ St. Jude's ILUMIEN OPTIS PCI Optimization System with FFR, OCT Cleared in EU (neopr.) . Med Gadget. Date of treatment March 20, 2014.
  49. ↑ 1 2 3 St Jude Medical launches real-time cardiac navigation technology (neopr.) . Medical Device Network. Date of treatment March 20, 2014.
  50. ↑ 1 2 CRT Implantation Using a New Sensor-Based Navigation System: Results from the First Human Use Study (unspecified) . American Heart Association. Date of treatment March 20, 2014.
  51. ↑ 3D Cardiovascular Navigation System: Accuracy and Reduction in Radiation Exposure in Left Ventricular Lead Implant (neopr.) . Journal of Cardiovascular Electrophysiology. Date of treatment March 20, 2014.
  52. ↑ Larry Husten . Novel Leadless Pacemaker Makes Debut At HRS 2013 , Forbes (May 13, 2013). Date of appeal September 25, 2014.
  53. ↑ Abraham WT, Adamson PB, Bourge RC, etal. Wireless pulmonary artery haemodynamic monitoring in chronic heart failure: a randomized controlled trial (English) // The Lancet : journal. - Elsevier , 2011 .-- February 19. Template: Closed access
  54. ↑ Marshall, Mallika . New Device Helps Heart Failure Patients Stay Out Of The Hospital , Boston, Massachusetts: WBZ-TV (September 22, 2014).

Links

  • St. Jude Medical on the website of the Securities and Exchange Commission
Source - https://ru.wikipedia.org/w/index.php?title=St._Jude_Medical&oldid=101090942


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