St. Jude Medical – Wikipedia

This article is about the aesculapian device company. For the nonprofit hospital, see St. Jude Children ‘s Research Hospital St. Jude Medical, Inc. was an american global medical device company headquartered in Little Canada, Minnesota, U.S., a suburb of Saint Paul. The company had more than 20 star operations and manufacture facilities worldwide with products sold in more than 100 countries. [ 3 ] [ 4 ] Its major markets include the United States, Europe, Latin America and Asia-Pacific. The company was named after Jude the Apostle, the patron saint of lost causes. [ 4 ] St. Jude Medical was founded in 1976 and went public in 1977, [ 4 ] [ 5 ] and the company has been listed in the Fortune 500 every year since 2010. [ 6 ] The party was acquired by Abbott Laboratories in January 2017. [ 7 ] [ 8 ] Michael T. Rousseau served as the caller ‘s president and foreman executive officer from 2016 until its learning by Abbott [ 9 ]

history [edit ]

early history [edit ]

St. Jude Medical was founded in 1976 to further develop bi-leaflet artificial heart valves, which were originally created in 1972 at the University of Minnesota. [ 4 ] [ 5 ] St. Jude Medical ‘s bi-leaflet valve was developed in large separate by Dr. Demetre Nicoloff of the University of Minnesota and St. Jude Medical employee Don Hanson. [ 5 ] caller founder Manny Villafana took St. Jude Medical public In February 1977. [ 4 ] In October of that year, Dr. Nicoloff implanted the party ‘s first base artificial heart valve in a homo affected role. [ 5 ] St. Jude Medical ‘s modern heart valve was coated in pyrolytic carbon paper, which helped the valve prevent blood curdle. [ 4 ] [ 5 ] St. Jude Medical founding foreman operating military officer LaVerne Rees became chief executive policeman in 1981. [ 10 ] curtly after his appointment as St. Jude Medical CEO, Rees directed the company to begin development of its own carbon paper application. [ 4 ] This decision led to a legal conflict with CarboMedics, the sole supplier of carbon coating for the party ‘s heart valves. [ 11 ] The St. Jude Medical board reassigned Rees in recently 1984 after the legal challenge continued. [ 4 ] [ 12 ] In 1985, Lawrence Lehmkuhl replaced Rees as president and CEO of St. Jude Medical. [ 13 ] Lehmkuhl had previously served as a division president of the united states at American Hospital Supply Corporation. [ 13 ] shortly after the appointment, St. Jude Medical settled its lawsuit with CarboMedics. [ 14 ] The two companies besides entered into an agreement that allowed St. Jude Medical to continue developing and producing limit quantities of its own carbon coat. [ 4 ] In 1986, the first gear St. Jude Medical heart valve created with the company ‘s own carbon coating engineering was implanted into a homo in Germany. [ 4 ] Later that year, St. Jude Medical expanded into weave kernel valves with its skill of BioImplant. [ 4 ] [ 15 ]

1990s [edit ]

The company established its International Division, located in Brussels, Belgium, in 1990. In April 1991, St. Jude Medical engaged in a roast venture with Hancock Jaffe Laboratories to create Heart Valve Company. [ 16 ] [ 17 ] The joint venture was formed to design and market new tissue kernel valves for the american market. [ 16 ] The foremost Heart Valve Company tissue heart valve was implanted in a human patient in 1994. [ 16 ] In March 1993, Ronald Matricaria, a erstwhile president of the united states of Eli Lilly & Company ‘s north american division, replaced Lehmkuhl as president and CEO of St. Jude Medical. [ 18 ] Lehmkuhl, who had presided over a nonuple addition in annual sales during his tenure as CEO, was named president of the St. Jude Medical display panel. [ 18 ] [ 19 ] Matricaria pushed for increasing diversification and boom St. Jude Medical ‘s learning hunt. [ 4 ] In June 1994, the company announced that it would acquire the Pacesetter, Inc., the heart pacesetter division of Siemens AG, for $ 500 million. [ 20 ] At the fourth dimension of its acquisition by St. Jude Medical, Pacesetter was the second largest pacemaker manufacturer worldwide. [ 20 ] In January 1996, St. Jude Medical far diversified its business when it acquired Minnetonka, Minnesota -based Daig Corporation for $ 425 million. [ 21 ] Daig Corporation manufactured cardiac catheters for diagnostic and curative uses. [ 21 ] besides in January of that year, St. Jude Medical became the sole owner of Heart Valve Company when it purchased Hancock Jaffe Laboratories ‘ 50 % share in the joint venture. [ 21 ] St. Jude Medical acquired Biocor Industria, a brazilian manufacturer of tissue heart valves, in September 1996. [ 22 ] In 1997, St. Jude Medical acquired Ventritex, a Sunnyvale, California -based manufacturer of implantable cardioverter-defibrillators for $ 352 million. [ 23 ] At the clock of its acquisition, Ventritex was the third-largest manufacturer of defibrillators. [ 23 ] In February 1999, St. Jude Medical acquired Tyco International ‘s Angio-Seal clientele. [ 24 ] Angio-Seal manufactured collagen-based plugs to close arterial holes made during arterial catheter procedures. [ 24 ] Matricaria stepped down vitamin a St. Jude Medical CEO in March 1999. [ 25 ] He was replaced by Terry Shepherd, who had served as president of St. Jude Medical ‘s heart valve clientele since 1994. [ 25 ] Matricaria retained chairmanship of the St. Jude Medical board. [ 25 ]

2000s [edit ]

In 2004, St. Jude Medical CEO Terry Shepherd retired. [ 26 ] The company ‘s stock had increased 277 % during his tenure as CEO. [ 26 ] St. Jude Medical COO Daniel Starks was appointed to replace Shepherd as the company ‘s CEO. [ 26 ] Starks had previously served as chief executive officer of Daig Corporation from 1986 to 1996, when St. Jude Medical acquired the company. [ 26 ] Starks had been retained by St. Jude Medical and had served as caller head operating military officer since 2001. [ 26 ] In January 2005, St. Jude Medical acquired Saint Paul, Minnesota -based Endocardial Solutions for $ 272 million. [ 27 ] Endocardial Solutions manufactured diagnostic and remedy devices used to treat atrial fibrillation. [ 27 ] Later that class the company acquired Plano, Texas -based Advanced Neuromodulation Systems for $ 1.3 billion. [ 28 ] At the clock time of its learning, Advanced Neuromodulation Systems was the second-largest supplier of devices that use electrotherapy to treat chronic pain and boldness disorders. [ 28 ] [ 29 ] In 2008, St. Jude Medical acquired MediGuide, an israeli caller that developed technology that uses bantam sensors to locate checkup devices inside of a affected role ‘s body and increase the come of information available to a doctor during aesculapian procedures. [ 30 ]

2010s [edit ]

St. Jude Medical acquired AGA Medical for $ 1.3 billion in October 2010. [ 15 ] AGA Medical was a Plymouth, Minnesota -based company that manufactured products that treat heart defects, including plugs and patches that fix holes and other cardiac defects. [ 31 ] [ 32 ] In 2010 the company besides acquired LightLab Imaging, a company that developed ocular coherence imaging technology that helps doctors treat heart disease. [ 33 ] In 2010, St. Jude Medical invested in an choice to acquire CardioMEMS Inc., a medical device company that developed a wireless feel and communication engineering to monitor pneumonic artery pressure ( PAP ) in heart failure patients. CardioMEMS Inc. was acquired by St. Jude Medical in May 2014. [ 34 ] [ 35 ] In August 2012, St. Jude Medical reorganized its business operations. [ 36 ] The caller folded its four product divisions into two operating units : the implantable electronic systems division ; and the cardiovascular and ablation technologies division. [ 36 ] The company besides centralized other functions including the marketing, information technology and legal departments. [ 36 ] St. Jude Medical ‘s reorganization coincided with layoffs of about 5 % of the company ‘s ball-shaped work force. [ 36 ] In 2013, St. Jude Medical acquired Endosense, a swiss company that developed a catheter that measures the pull a sophisticate places on a patient ‘s heart wall during a catheter ablation routine. [ 37 ] St. Jude Medical paid $ 330 million for the company. [ 37 ] In June 2013, St. Jude Medical entered into a series of agreements under which the ship’s company made a $ 40 million equity investment in Spinal Modulation, Inc. [ 38 ] In May 2015, the ship’s company completed the skill of Spinal Modulation, developer of the Axium Neurostimulator System. [ 39 ] St. Jude Medical acquired Nanostim Inc., a Sunnyvale, California -based privately owned developer of miniaturized, unleaded pacemakers, for $ 123.5 million in October 2013. [ 40 ] The skill followed the blessing of Nanostim ‘s unleaded pacemaker by the European Union. [ 40 ] St. Jude Medical had secured the exclusive right to acquire Nanostim with a May 2011 investment in the start-up. [ 41 ] St. Jude Medical continued the restructuring it started in 2014 with its consolidation of the party ‘s two operating units—the implantable electronic systems and the cardiovascular and ablation technologies units—into single inquiry and development division. [ 42 ] The company besides consolidated its cosmopolitan manufacture and add chain operations into a second gear division. [ 42 ] In July 2015, the caller announced its intention to acquire heart-device manufacturer Thoratec Corporation for $ 3.4 billion. [ 43 ] The skill was completed in October 2015. [ 44 ] In September 2015, St. Jude Medical announced that Daniel Starks would retire as president, president of the united states, and chief executive military officer. On January 1, 2016, Michael T. Rousseau succeeded Starks as president, CEO and a member of the St. Jude Medical Board of Directors. Starks would remain executive chair of the board of directors. [ 9 ] In late April 2016, Abbott Laboratories announced it would acquire St. Jude Medical for $ 25 billion ( $ 46.75 in cash & 0.8708 shares of Abbott coarse stock, equating to an approximate value of $ 85 per share ). [ 7 ] [ 8 ] On January 5, 2017, Abbott announced that it had completed its $ 25 billion acquisition of St. Jude Medical .

Acquisition history [edit ]

The come is an exemplification of the company ‘s major mergers and acquisitions and historical predecessors ( this is not a comprehensive number ) :

St. Jude Medical 
St. Jude Medical
( Est 1976 )
Pacesetter, Inc.
( Acq 1994 )
Daig Corporation
( Acq 1996 )

Heart Valve Company
( Acq remaining 50 % from joint guess with Hancock Jaffe Laboratories ‘ 1996 )
Biocor Industria
( Acq 1996 )
Ventritex
( Acq 1997 )
Tyco International
( Angio-Seal div, Acq 1999 )
Endocardial Solutions
( Acq 2005 )
advance Neuromodulation Systems
( Acq 2005 )
MediGuide
( Acq 2008 )
AGA Medical
( Acq 2010 )
LightLab Imaging
( Acq 2010 )
CardioMEMS Inc.
( Acq 2014 )
Endosense
( Acq 2013 )
spinal anesthesia Modulation
( Acq 2015 )
Nanostim Inc
( Acq 2013 )
Thoratec Corporation (Acq 2015)
Apica Cardiovascular Limited
( Acq 2014 )
Levitronix
( Acq 2011 )
Getinge Group
( Heart pump engineering div, Acq 2014 )
Thermo Cardiosystems
( Acq 2010 )

Operations [edit ]

St. Jude Medical manufactures implantable cardioverter-defibrillators ( ICD ) ; pacemakers ; electrophysiology catheters ; vascular closure products ; cardiac map and visual image systems ; optical coherence imaging ( OCT ) imaging systems ; morphologic heart repair products ; and neurostimulation devices. [ 3 ] The company ‘s operations are divided into two divisions : research and development ; and manufacture and add chain. [ 45 ] St. Jude Medical besides operates six engineering centers located in Brussels, Belgium, Beijing, China, Tokyo, Japan, Austin, Texas, St. Paul, Minnesota and Sylmar, California. [ 46 ] [ 47 ] [ 48 ] These centers offer training to physicians and allow them to simulate patient procedures using St. Jude Medical devices and technologies. [ 46 ] [ 47 ]

Products [edit ]

The company besides manufactures implantable cardioverter-defibrillators ( ICDs ) and implant cardiac resynchronization devices ( CRT-Ds ). [ 49 ] [ 50 ] The ICDs and CRT-Ds use quadripolar lead engineering, which utilizes four electrodes on a individual lead to yard multiple locations on the bequeath slope of the heart. [ 51 ] In 2013, the company began marketing the Ilumen Optis device, which is a diagnostic and assessment tool for patients with coronary thrombosis artery disease. [ 52 ] The device uses fractional flow modesty for measuring intra-arterial blackmail and ocular coherence imaging engineering, which allows doctors to visually examine inside a patient ‘s arteries. [ 53 ]

technology [edit ]

MediGuide [edit ]

St. Jude Medical produces MediGuide, a cardiac navigation and visual image technology that provides real-time fluoroscopic images. [ 54 ] [ 55 ] The system besides gives doctors the ability to locate devices that are implanted with MediGuide-enabled sensors. [ 54 ] [ 55 ] MediGuide reduces the duration of a patients ‘ radiation sickness vulnerability during cardiovascular procedures. [ 54 ] [ 56 ]

Nanostim [edit ]

In October 2013, the party acquired and began developing Nanostim unleaded pacemakers. Nanostim technology consists of a miniaturize pacemaker implanted by a transdermal, catheter-based procedure and placed into the affection. They are designed without the necessity for a lead, the sparse wires inserted through a vein which connect the generator to the center, or surgical air pocket. [ 57 ]

CardioMEMS [edit ]

In June 2014, St. Jude Medical acquired and began developing CardioMEMS HF System, a wireless pneumonic artery atmospheric pressure ( PAP ) monitor technology. The wireless monitoring engineering is used to assess cardiac performance via measurement of PAP and can be placed into the pneumonic artery. [ 58 ]

Controversies [edit ]

In December 2010, St. Jude Medical voluntarily stopped selling its Riata and Riata ST note of defibrillator leads over concerns that the leads were susceptible to insulation abrasion. [ 59 ] [ 60 ] The Food and Drug Administration issued a remember of the leads in November 2011. [ 60 ] [ 61 ] In May 2013, Population Health Research Institute ( PHRI ), an academic health science research institute, conducted an independent analysis of data received from ongoing prospective registries that monitor the operation of the Durata and Riata ST ICD leads. [ 62 ] The results of the psychoanalysis found that the isolate leads had a 99.8 percentage rate of exemption from all-cause insulation grinding at 5 years. [ 62 ] In January 2013, the Food and Drug Administration sent St. Jude Medical a admonitory letter detailing concerns regarding processes at the company ‘s Sylmar, California facility. [ 63 ] The letter was sent following inspections of the implant in September and October 2012. [ 63 ] The letter did not raise any safety concerns about St. Jude Medical products. [ 63 ] That same month the party sent the Food and Drug Administration a 34-page letter detailing the party ‘s efforts to correct problems found during the October inspection. [ 64 ] In 2014 a security vulnerability in St. Jude ‘s pacemakers was reported by MedSec Holdings Ltd and confirmed by the FDA. [ 65 ]

References [edit ]

Leave a Reply

Your email address will not be published.