St Jude Medical reports rise in sales during fourth quarter

St Jude Medical has announced preliminary financial data for the fourth quarter of 2010, suggesting a double-digit rise in sales during the three months.

The medical device firm expects its net sales total for the period will come to around $1.35 billion (846.9 million pounds), up by approximately 12 percent year-on-year.

Cardiac rhythm management products contributed the majority of this total, with growth noted across its implantable cardiac defibrillator, pacemaker, atrial fibrillation, cardiovascular and neuromodulation divisions.

The firm also highlighted the positive contribution made by its new subsidiary AGA Medical, a takeover deal which was finalised last year.

Daniel Starks, chairman, president and chief executive officer of St Jude Medical, said: "During 2010, one key priority was investing to accelerate our long-term sales growth. Q4 results demonstrate that we are making good progress delivering on this priority."

Last month, St Jude Medical was granted a recommendation from the Cardiovascular and Interventional Radiological Society of Europe for the safety of its Angio-Seal vascular closure device.