After months of regulatory woes and sluggish sales, St. Jude Medical has spent the past year cutting costs, trimming payroll and digging deep for some high-profile M&A. Now, after stringing together a few positive quarters, the company has won over many analysts and investors, setting the table for a big 2014.
St. Jude Medical is looking to get electrophysiological, buying Switzerland's Endosense in a deal worth up to $331 million.
Fresh off raising $40.3 million in venture cash, Endosense has treated its first American patient in a study of its cardiac catheter ablation device, and the company is amassing data to support an FDA application.
Endosense attracted $40.3 million in new Series C financing that demonstrates the increasing interest in catheter ablation to treat cardiac arrhythmias. The Swiss devicemaker already has several products in the space that are on sale or under development, and the new cash infusion will help move along U.S. regulatory efforts and grow its European sales force.
Switzerland's Endosense has named Jan Keltjens as president and CEO. He replaces Eric Le Royer, who is retiring from Endosense after leading the firm from its first venture capital financing 7 years