Little Canada-based St. Jude Medical plans to broaden its presence in the treatment of chronic pain with the acquisition of a pain management therapies manufacturer.
The Wall Street Journal reported that St. Jude agreed to purchase the privately held NeuroTherm Inc. for about $200 million in cash. The deal is expected to be complete by the end of the third quarter of this year.
NeuroTherm develops procedures and products to address chronic pain, which the companies noted in a news release affects about 1.5 billion people world-wide. Based in Wilmington, Mass., NeuroTherm has three European offices and direct and indirect sales professionals in 65 countries.
The Star Tribune notes that the acquisition "...will add complimentary products to St. Jude’s existing chronic pain management portfolio, which is a small portion of St. Jude’s $5.5 billion business."
NeuroTherm products use radio-frequency ablation to treat chronic spinal pain. The minimally-invasive procedure uses pinpoint application of heat to destroy nerves in the neck and back that contribute to chronic pain.
“Neurotherm’s radio-frequency ablation products are an ideal complement to St. Jude Medical’s chronic pain portfolio, providing our global sales force with additional interventional pain therapies,” Michael Rousseau, St. Jude’s chief operating officer, said in a statement.