St. Jude puts $60M into heart-failure monitor firm
With an eye toward capitalizing on the potentially lucrative heart-failure market, St. Jude Medical Inc. said Tuesday it has invested $60 million in a Georgia company that has developed a wireless cardiac monitoring device.
If all goes well, Little Canada-based St. Jude could buy CardioMEMS Inc. outright for an additional $375 million if certain milestones are met. With Tuesday's news, St. Jude now owns a 19 percent stake in the Atlanta start-up.
CardioMEMS has developed a device that is inserted in the pulmonary artery during a minimally invasive surgical procedure. A sensor then transmits data about the heart's performance through an external monitor to the patient's clinic for review. If a problem is detected, including fluid buildup in the lungs, doctors can adjust medication or make other treatment decisions, often keeping the patient out of the hospital.
- Half of All Primary Care, Internal Medicine Jobs Unfilled in 2013
- How Digital Strategy Shapes Patient Engagement at Boston Children's Hospital
- CFO Exchange: Smartphones Poised to Disrupt Healthcare, Says Topol
- CNO on Hospital Redesign: 'You Can't Over-Communicate'
- Carondelet to Pay $35M to Settle Fraud Allegations
- Some Cancer Hospitals' Quality Data Will Soon Be Public
- CA Powers Up $80M HIE to 'Create Value in the Data'
- PA Ranks See 'Phenomenal Growth,' Lack of Diversity
- 3 Traits Personality Assessments Can't Reveal
- Cleveland Clinic Partners with North Shore-LIJ for Heart Care