Lawsuit Says St. Jude Stuck Insurer With Faulty Pacemaker Costs
A court case claims that St. Jude Medical’s handling of implant battery issues several years ago defrauded insurers.
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Abbott has scored US FTC antitrust approval for its proposed $25bn acquisition of St. Jude. The approval comes with two conditions: that Abbott divests the vascular closure device and steerable sheath businesses to Terumo, and that it notifies the FTC if it intends to acquire lesion-assessing ablation catheter assets from Advanced Cardiac Therapeutics.
St. Jude Medical has issued a warning about premature battery depletion issues in some ICDs, but says it has already fixed the problem. Analysts say it is not likely to have any impact on Abbott’s plans to acquire St. Jude by the end of 2016.
Health care industry groups expressed support after the high court found that Texas and 17 other Republican-led states lacked standing to file suit because they hadn’t shown the act had directly harmed them.