St. Jude Makes Change At The Top
This article was originally published in The Gray Sheet
Daniel Starks is retiring as CEO of St. Jude Medical while Chief Operating Officer Michael Rousseau prepares to take the top spot on Jan. 1.
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Oncoming St. Jude CEO's executive team, Sorin and Cyberonics combined firm CFO, MITA chairman, and more personnel updates from around the industry.
St. Jude Medical says it will pay $3.4 billion to own ventricular-assist device leader Thoratec, pointing to significant synergies in the heart failure and interventional cardiology markets. The deal would thrust VADs into a diversified cardiology firm for the first time, and it includes a "go-shop" period that leaves an opening for other big device firms to enter competing bids.
St. Jude Medical plans to combine its implantable electronic device unit with its cardiovascular/ablation unit into one integrated R&D organization, and announced several senior leadership changes as part of the restructuring.