St Jude Medical announces business restructuring

St Jude Medical is realigning its business units in order to promote growth, while also making several changes to its leadership structure.

The company is restructuring its operations to comprise two main divisions – the implantable electronic systems division (IESD), formed from its cardiac rhythm management and neuromodulation units, and the cardiovascular and ablation technologies division (CATD), which combines its atrial fibrillation and cardiovascular units.

Moreover, several support functions – including information technology, human resources, legal and business development – are set to be centralised as part of the initiative.

Eric Fain will head the IESD and Frank Callaghan will be in charge of CATD, while Donald Zurbay, Rachel Ellingson and Kathleen Chester have been named as executive officers.

Daniel Starks, chairman, president and chief executive officer of St Jude Medical, said: "We are focused on reducing costs, leveraging economies of scale, maintaining the highest level of quality and funding our entire portfolio of new growth drivers."

Last month, the company issued a tribute to Thomas Garrett, the longest-tenured member of its board of directors, following his death from multiple myeloma.