St. Jude Restructuring Will Cut 300 Jobs, Save Up To $60 Million In 2013
This article was originally published in The Gray Sheet
Move will realign four product divisions into two new operating units to support growth opportunities, help offset impact of 2.3% device tax set to take effect next year.
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St. Jude Medical plans to combine its implantable electronic device unit with its cardiovascular/ablation unit into one integrated R&D organization, and announced several senior leadership changes as part of the restructuring.
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Anticipated growth drivers include the firm’s MediGuide catheter tracking system, EnligHTN multi-electrode renal denervation system and Portico transcatheter aortic valve, aided by a return to stability of the cardiac rhythm management market by the first half of 2013.