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BUSINESS
December 25, 1993
Medtronic Agrees to Merger With Electromedics: Medtronic Inc. said it will pay $101 million in a merger agreement with Electromedics Inc., capping a month-long bidding war with St. Jude Medical Inc. for a process that recyles a surgical patient's blood for transfusion.
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BUSINESS
October 17, 2005 | From Reuters
Heart device manufacturer St. Jude Medical Inc. said Sunday that it would buy Advanced Neuromodulation Systems Inc. for about $1.3 billion in cash to gain new products used to treat chronic pain and nervous-system disorders. St. Jude Medical, the No. 3 maker of implantable devices that regulate heart rhythms, would pay $61.25 for each share of ANS, a 30% premium over ANS' closing price Friday of $46.98. The acquisition would allow St. Jude to expand beyond the cardiac market into neurology.
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BUSINESS
June 29, 1994 | GREG MILLER, TIMES STAFF WRITER
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.
BUSINESS
July 4, 2001 | Bloomberg News
St. Jude Medical Inc., a maker of devices used to treat heart disease, said a jury ordered the company to pay rival Guidant Corp. $140 million in a patent dispute. St. Jude, of St. Paul, Minn., said it will ask a judge to set aside the verdict or reduce the award. Guidant sued St. Jude in 1996, claiming the company infringed four patents related to implantable defibrillators, which are used to restore normal heart rhythm.
BUSINESS
July 4, 2001 | Bloomberg News
St. Jude Medical Inc., a maker of devices used to treat heart disease, said a jury ordered the company to pay rival Guidant Corp. $140 million in a patent dispute. St. Jude, of St. Paul, Minn., said it will ask a judge to set aside the verdict or reduce the award. Guidant sued St. Jude in 1996, claiming the company infringed four patents related to implantable defibrillators, which are used to restore normal heart rhythm.
NEWS
March 3, 1999
St. Jude Medical Inc., a leading manufacturer of pacemakers and other cardiovascular products, promoted Terry Shepherd, an industry veteran, to chief executive and president, replacing Ronald A. Matricaria, who will remain chairman. Fred P. Parks, the expected successor to Shepherd, will leave the company. Parks joined St. Jude as president and chief operating officer last year.
BUSINESS
November 13, 1996
Trimedyne Inc. said it named a president for its Cardiodyne Inc. subsidiary and invested $2 million in the unit. E. Phillip Palmer, former vice president of corporate development at St. Jude Medical Inc., was named president and chief operating officer of Cardiodyne. The position is a new title. The medical-devices maker said the $2-million investment will be used to develop a laser system to treat clogged arteries.
BUSINESS
July 21, 2007 | From Times Wire Services
Heart device maker Medtronic Inc. has agreed to pay more than $75 million to settle lawsuits claiming it hid defects in its defibrillators, people with direct knowledge of the accord said. The settlement will resolve about 2,000 claims over battery defects in Medtronic's implantable defibrillators, which automatically send electric jolts to correct heart rhythms that are potentially fatal.
BUSINESS
April 28, 1992
Hancock-Jaffe Laboratories, a developer of biological implants for the cardiovascular, orthopedic and plastic surgery markets, has entered into a joint-venture agreement with a Minnesota company. St. Jude Medical Inc. of St. Paul made the announcement Monday, saying the deal will allow the companies to combine their research in developing a heart valve made from tissue rather than a non-biological material. St.
NEWS
February 18, 2000 | From Times Wire Reports
St. Paul, Minn.-based St. Jude Medical Inc., the nation's second-largest manufacturer of pacemakers, said that some of its pacemakers could malfunction because of an electrical connection problem. It was the second time in the last month that the medical device maker warned of possible defects in its products. The company said a defective batch of epoxy could cause a malfunction in about 10% of the 891 Affinity pacemakers manufactured last summer.
BUSINESS
December 25, 1993
Medtronic Agrees to Merger With Electromedics: Medtronic Inc. said it will pay $101 million in a merger agreement with Electromedics Inc., capping a month-long bidding war with St. Jude Medical Inc. for a process that recyles a surgical patient's blood for transfusion.
BUSINESS
February 15, 2002 | Bloomberg News
Guidant Corp. can't collect a $140-million jury award in a patent case and may owe millions of dollars in penalties, because its key witness lied in the dispute with rival cardiac device maker St. Jude Medical Inc., a judge said. U.S. District Judge David F. Hamilton overturned the jury award in the dispute over patents for implantable defibrillators, which are used to restore normal heart rhythm. Guidant's chief expert witness, Purdue University biomedical engineer Joe D.
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