St Jude Medical sees business growth in Q3 2013

St Jude Medical has announced its financial results for the third quarter of 2013, during which it experienced year-on-year growth in line with its long-term business strategy.

The medical technology firm's net sales for the quarter came to $1.34 billion (828.46 million pounds), representing an annual increase of three percent on a currency-neutral basis.

Positive performances for the company's atrial fibrillation, cardiovascular and neuromodulation businesses helped to offset the relative weakness of its cardiac rhythm management business, while the completion of its Endosense takeover will also help to bolster future performance.

For the full year 2013, the firm expects total revenue to be in the range of $5.39 billion to $5.47 billion.

St Jude Medical chairman, president and chief executive officer Daniel Starks said: "Our third-quarter results demonstrate that we are successfully implementing our programme to accelerate sales growth on a sustainable basis, while strengthening our programme with selective and disciplined acquisitions."

This comes after the organisation also completed its takeover of Nanostim, the creator of the world's first and only leadless pacemaker, earlier this month.