February 16, 1993 |
In the pacemaker business, there are two main providers to the U.S. market: industry leader Medtronic Inc. in Minneapolis, followed by Siemens Pacesetter Inc. in Sylmar. Together, they supply roughly 70% of the conventional pacemakers that bolster otherwise slow heartbeats. Now Medtronic is getting lots of attention for its new device that does something different--it calms fast heartbeats.
September 15, 1992
A four-year patent infringement battle over cardiac pacemakers between Medtronic Inc. and Siemens AG has ended with Siemens agreeing to pay more than $300 million over 10 years to settle the lawsuits. The German industrial giant Siemens produces pacemakers, which stimulate sluggish heartbeats, through its Siemens Pacesetter Inc. unit in Sylmar. Medtronic, the world's leading pacemaker concern, is based in Minneapolis.
October 1, 1991
Siemens-Pacesetter, a Sylmar-based heart pacemaker company, said it plans to appeal a decision by a federal court in Illinois that it has infringed on a patent held by its chief competitor, Medtronic Inc. of Minneapolis. The court found last week that Siemens-Pacesetter, a unit of German electronics concern Siemens AG, had infringed on a Medtronic patent for a technology that uses signals from the body to control the rate of pacesetters.
June 9, 1990 |
Cardiac pacemaker giant Medtronic Inc. said Friday that it had agreed to buy Bio-Medicus Inc. for $190 million in a bid to diversify its line of cardiovascular medical devices. The two biotechnology companies settled on a stock swap worth $25 a share to Bio-Medicus shareholders, but the value and stock swap ratio could change, based on fluctuations in Medtronic's stock price. Bio-Medicus' board accepted the bid in a meeting Thursday night, hours after Medtronic sweetened its bid.
May 25, 1990 |
An Anaheim division of a Minneapolis biomedical manufacturer will supply 20,000 blood oxygenators to hospitals in the Soviet Union under a contract that company officials valued at $6 million. Medtronic Cardiopulmonary, a 380-employee division of Medtronic Inc., manufactures the Maxima blood oxygenator, a disposable device used to perform the functions of the lungs during open-heart surgery. Winston R.
October 31, 1989 |
In mid-August, Siemens-Pacesetter Inc., a Sylmar manufacturer of heart pacemakers, got federal approval to start selling its latest pacemaker, the Synchrony. The device, which costs doctors $6,300, is the most sophisticated and expensive pacemaker Siemens-Pacesetter has yet designed. Chairman Alfred E. Mann believes that Synchrony will enable his company, the industry's No. 2 player with about 25% of the $1.