ST. PAUL, Minn.--(BUSINESS WIRE)--St. Jude Medical, Inc. (NYSE:STJ), a global medical device company, today announced it has completed its acquisition of privately held NeuroTherm, Inc., a manufacturer of interventional pain management therapies.
“Over the last year, we have launched two novel neuromodulation products, made a strategic investment in Spinal Modulation, and initiated two multi-center, randomized clinical studies to evaluate alternatives for patients living with chronic pain,” said Michael T. Rousseau, St. Jude Medical chief operating officer. “This acquisition further demonstrates St. Jude Medical’s commitment to our chronic pain program and our steadfast focus on improving patient outcomes.”
St. Jude Medical is the only medical device manufacturer with a chronic pain product portfolio that offers both radiofrequency ablation for spinal pain and spinal cord stimulation. The company now has a comprehensive range of radiofrequency products available worldwide for interventional pain management, including generators, electrodes and needles.
BofA Merrill Lynch served as financial advisor and Gibson, Dunn & Crutcher LLP as legal counsel to St. Jude Medical. Piper Jaffray & Co. acted as financial advisor and Calfee, Halter & Griswold LLP served as legal counsel to NeuroTherm.
About St. Jude Medical
St. Jude Medical is a global medical device manufacturer dedicated to transforming the treatment of some of the world’s most expensive epidemic diseases. The company does this by developing cost-effective medical technologies that save and improve lives of patients around the world. Headquartered in St. Paul, Minn., St. Jude Medical has four major clinical focus areas that include cardiac rhythm management, atrial fibrillation, cardiovascular and neuromodulation. For more information, please visit sjm.com or follow us on Twitter @SJM_Media.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Such forward-looking statements include the expectations, plans and prospects for the Company, including potential clinical successes, anticipated regulatory approvals and future product launches, and projected revenues, margins, earnings and market shares. The statements made by the Company are based upon management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include market conditions and other factors beyond the Company’s control and the risk factors and other cautionary statements described in the Company’s filings with the SEC, including those described in the Risk Factors and Cautionary Statements sections of the Company’s Annual Report on Form 10-K for the fiscal year ended December 28, 2013 and Quarterly Report on Form 10-Q for the fiscal quarter ended June 28, 2014. The Company does not intend to update these statements and undertakes no duty to any person to provide any such update under any circumstance.