Deal summary reprinted from Strategic Transactions - January 2008
Find out how St. Jude Medical has purchased Radi Medical for $250mm in cash, paying over three times what the private Swedish device maker is expected to make in 2008 sales.
Deal summary reprinted from Strategic Transactions - January 2008
St. Jude expands CV offerings in $250mm Radi Medical buy
Founded twenty years ago, Radi, which will become part of St. Jude's cardiovascular division, brings expertise in three areas: interventional cardiology, radiology, and hemostasis management. With 70% of the worldwide market for physiological assessment of coronary lesions, Radi's PressureWire Certus is the leading intravascular sensor for measuring blood pressure in the coronary arteries to calculate fractional flow reserve (FFR), a key index in cath labs. The company's radiology devices, including Bonopty and SeeStar, are used during percutaneous interventions along with CT imaging. And to stop arterial bleeding, Radi offers FemoStop (for the femoral artery) and RadiStop (radial artery), which are manual compression-assist devices for vascular closure, a market in which St. Jude already participates via its leading Angio-Seal system. St. Jude also strengthened its position in this category a few months ago when it acquired Datascope's vascular closure unit. A day after St. Jude disclosed the present takeover, it announced it bought MediGuide, which is known for its gMPS intra-body tracking system used during catheterization and other minimally invasive procedures.
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