St. Jude First To Market Leadless Pacemaker With Nanostim Buy
This article was originally published in The Gray Sheet
St. Jude paid $123.5 million and agreed to up to $65 million in additional milestone payments to acquire Nanostim and its first-in-class leadless pacemaker, which has just earned a CE mark and is expected to launch in select European markets soon.
You may also be interested in...
Medtronic’s Micra Transcatheter Pacing System is not only the world’s tiniest approved pacemaker, but the vitamin-sized transcatheter device also has no leads and is cosmetically invisible. The pacemaker targets patients with a slow heartbeat who can benefit from single-chamber pacing.
The firm’s ultra-small leadless pacing system has been cleared to launch in Europe, where it will face off with St. Jude’s Nanostim, which is slowly recovering from a pause in implants in 2014.
Device companies finished 2013 strong, raising $1.2 billion in Q4, the highest quarter total of the year. CVS Caremark’s $2.1 billion buy of Apria’s infusion therapy business was the largest M&A of the year, and late-stage venture rounds dominated the $423 million total in diagnostics funding.