The second shift at St. Jude Medical's cardiology device manufacturing facility in Sylmar, a suburb of Los Angeles, is being eliminated, resulting in the loss of up 270 jobs. The layoffs will take effect July 28, reports the San Fernando Valley Business Journal.
St. Jude Medical is hoping to strengthen its franchise in ablation catheters--thin, flexible wires inserted non-surgically into the heart to treat cardiac arrhythmia. Its FlexAbility irrigated ablation catheter has garnered a CE Mark in Europe, where it has marketed the TactiCath contact-force sensing irrigated ablation catheter since 2012. The company hopes to get FDA approval by year end for both FlexAbility and TactiCath.
St. Jude Medical is celebrating positive second-quarter sales fueled by tried-and-true products, but the devicemaker wants to capitalize on an untapped niche in the coming year by focusing on renal denervation.
St. Jude Medical posted slight increases in second quarter sales, riding the tailwinds of recent M&A deals and the continued success of its cardiac rhythm management unit.
St. Jude Medical signed on the dotted line to acquire interventional pain management therapy manufacturer NeuroTherm for approximately $200 million in cash, strengthening its foothold in the chronic pain market.
St. Jude Medical will exercise its exclusive option to purchase CardioMEMS, maker of the now FDA approved HF System for monitoring heart failure.
St. Jude Medical bucked the trend of bad renal denervation news, touting the newly released data from its studies of the CE-marked EnligHTN renal denervation system at the EuroPCR cardiovascular interventions conference in Paris.
St. Jude Medical completed the first U.S. implants of its transcatheter aortic valve system, moving the company one step closer to winning coveted stateside approval for its device.
St. Jude Medical's much-vaunted TactiCath device came through in a sizable U.S. trial, the company said, setting the stage for a final FDA decision and a chance at a bigger share of the electrophysiology market.
Despite long-running headwinds, St. Jude Medical pulled off an increase in implanted defibrillator revenue in the first quarter, helping the company swing to a small rise in sales.