June 29, 1994 |
Siemens Pacesetter Inc., the Sylmar-based producer of cardiac pacemakers and other medical equipment, will be purchased for about $500 million by St. Jude Medical Inc., the world's leading maker of heart valves, the companies announced Tuesday. The deal will place St. Jude, based in St. Paul, Minn., in the top tier of pacing-device makers and will put both companies in a better position to compete in the rapidly changing health care industry, St. Jude Chief Executive Ronald A. Matricaria said.
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.
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.
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.
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.