VADs Set To Enter Big Leagues With St. Jude's Plan To Acquire Thoratec
St. Jude Medical says it will pay $3.4 billion to own ventricular-assist device leader Thoratec, pointing to significant synergies in the heart failure and interventional cardiology markets. The deal would thrust VADs into a diversified cardiology firm for the first time, and it includes a "go-shop" period that leaves an opening for other big device firms to enter competing bids.
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Thoratec has agreed with plaintiffs to pay $12m to settle a lawsuit alleging the company hid negative information about the company’s heart pump, thus keeping share prices artificially high. A hearing is scheduled on the settlement for next month.
$1.4 billion in Q3 device financing was slightly lower than Q2's $1.8 billion with just one IPO versus Q2's seven. Acquisitions reached a high of $23 billion and diagnostics financing increased 30% over Q2 to $1 billion, while M&A activity at $1.2 billion showed a sharp decline from the previous quarter's $15.6 billion.
Improving outcomes, reducing costs, and cutting readmissions are front and center for St. Jude Medical as it moves into new areas of cardio technology that suit the changing needs of both providers and patients.