St Jude Medical completes Spinal Modulation takeover

St Jude Medical has announced the completion of its previously-announced takeover of the medical technology firm Spinal Modulation.

The takeover was finalised at the beginning of the month and adds the Axium Neurostimulator System to St Jude Medical's portfolio. This device offers spinal cord stimulation that targets a neural structure within the spine called the dorsal root ganglion.

Axium system has received CE Mark approval in the EU for the management of chronic intractable pain. In December 2014, Spinal Modulation also completed enrolment for a US clinical trial of the device, which will support a regulatory application in that territory.

St Jude Medical is now the only medical device manufacturer in the world to offer radiofrequency ablation, spinal cord stimulation and dorsal root ganglion stimulation therapy options for the treatment of chronic pain.

Chief operating officer Michael Rousseau said: "We're confident the Axium system will further support our goal of providing physicians multiple options to tailor treatment for patients with chronic pain."

During the first quarter of 2015, St Jude Medical's net sales increased by approximately five percent on a constant currency basis compared to Q1 2014.