St Jude Medical completes takeover of CardioMEMS

St Jude Medical has announced the completion of its takeover of the privately-held medical technology firm CardioMEMS.

The newly-acquired business is the developer of the innovative CardioMEMS heart failure management system, which was created in cooperation with St Jude Medical and received US regulatory approval last week.

It was the positive decision from the US Food and Drug Administration that prompted St Jude Medical to exercise its option to purchase the company, paving the way for the imminent launch of the product in the country.

The CardioMEMS system is the only monitoring device proven to significantly reduce hospital admissions when used by physicians to manage heart failure. It allows clinicians to stabilise pulmonary artery pressures by managing medications and other treatment options, while also highlighting early indications of worsening heart failure.

Daniel Starks, St Jude Medical's chairman, president and chief executive officer, said: "St Jude Medical's acquisition of CardioMEMS shows our commitment to providing innovative medical device solutions that reduce the burden of complex diseases like heart failure, both on patients and healthcare systems."