St. Jude Medical acquires wireless pacemaker company

Author:
Updated:
Original:

On Monday, St. Jude Medical announced the acquisition of Nano­stim Inc. The Star Tribune reports deal has been in the works for a while. St. Jude paid $123.5 million to Nanostim shareholders, with another $65 million in cash to come.

The newspaper said that the acquisition brings St. Jude a pacemaker that is remarkable for its compactness--it's described as being about the size of a AAA battery. The device is also revolutionary because it doesn't have wires, often called leads.

The Wall Street Journal's StreetWatch said California-based Nanostim is a closely held company. It reported that Nanostim's device is less than 10 percent the size of a conventional pacemaker. It can be delivered via a steerable catheter through the femoral vein. That eliminates the need to surgically create a pocket for the pacemaker and insulated wires that have been the most vulnerable component of pacing systems.

The Associated Press adds that St. Jude Medical has received European approval to market the Nanostim pacemaker.St. Jude is expected to start clinical trials of the device in the U.S. next year. Such testing is required before Food and Drug Administration can be sought.

Nanostim and its 45 employees will become a part of St. Jude’s implantable electronic systems division. The Little Canada-based company has about 16,000 employees worldwide, with 2,500 of them in Minnesota.

Next Up

Antoine Winfield Jr.

Antoine Winfield Jr. says playoff win was "for my pops back in '09"

The son of the Vikings legend did not forget about "Bountygate."

Jared Vanderbilt

Shorthanded Timberwolves fall to Atlanta in Monday matinee

D'Angelo Russell scored 31 points, but didn't have much help.

police lights

Man, 72, critical after possible robbery outside Minneapolis business

The 72-year-old sustained gunshot wounds in the incident.

vaccine

It could take months to vaccinate MN teachers, people 65 and older

"This is going to be harder than going to Ticketmaster and trying to get Bruce Springsteen tickets," Walz said.

Herb Brooks statue

Trump's planned statue garden would include 2 Minnesotans, others with MN links

But there were some notable names absent from the wide-ranging and eclectic list.

k9 zeke

Petition seeks to allow retired Corcoran officer to keep K9 partner

Corcoran's public safety director says if K9 Zeke is donated to the officer it will be a loss for the department.

covid

Here is Minnesota's COVID-19 update for Monday, Jan. 18

The latest update from the Minnesota Department of Health.

Tom Kelly Jr.

Tom Kelly Jr., son of Twins World Series manager, dies at 42

He was a member of the 2001 UST national championship team.

Hennepin County CSI

Police: Man shot in the head by woman in Richfield

It happened in the early hours of Monday.

Related