St Jude announced today that they will pay $50 million for Savacor Inc (recently profiled on MedGadget.com). Additional terms tied to regulatory and sales milestones were not
disclosed. The acquisition is expected to close by the end of the year.
St. Jude Medical will record a $50 million in-process research and
development charge in connection with the transaction.
Savacor currently has a small implantable sensor device in clinical trials both
in the United States and internationally that measures left atrial
pressure and body temperature to help physicians detect and manage
symptoms associated with progressive heart failure.