Feature | October 18, 2010

St. Jude to Purchase AGA, Expand Structural Heart Device Offerings

St. Jude Medical Inc. said it plans to acquire AGA Medical Holdings Inc. for about $1.3 billion. The purchase will expand St. Jude’s cardiac device offerings with a portfolio of transcatheter structural heart occluders.

AGA’s products include the Amplatzer series of devices to treat atrial septal defects (ASDs), patent ductus arteriosus (PDAs) and ventricular septal defects (VSDs). The company makes vascular plugs to embolize peripheral veins and arteries to reduce or eliminate blood flow to a targeted organ, or to reroute blood flow through other vessels. It is also developing an occluder for the left atrial appendage (LAA).

The boards of directors of both companies approved a definitive agreement under which St. Jude Medical will acquire all of the outstanding shares of AGA Medical for $20.80 per share in a cash and stock transaction valued at approximately $1.3 billion, including the assumption of approximately $225 million in outstanding debt. The transaction is expected to be conducted as an exchange offer followed by a merger and will close by the end of the year.

AGA Medical, with sales of approximately $199 million in 2009, is a global innovator and manufacturer of a comprehensive line of devices used to treat structural heart defects and vascular abnormalities through minimally invasive transcatheter treatments. St. Jude said the merger will create the only company with programs across all major categories that include structural heart defects, LAA occlusion, transcatheter aortic valve implantation and percutaneous mitral valve repair.

AGA Medical’s revenue has grown at a compounded annual rate of 19 percent during the period from 2005 to 2009. On a constant currency basis, St. Jude Medical expects AGA Medical to grow its revenue in the low double-digits for 2011, not including the benefits of any possible future product approvals or successful clinical trial outcomes. AGA’s Amplatzer devices are currently marketed and sold in 112 countries and more than 450,000 AGA products have been sold worldwide.

"St. Jude Medical believes that the acquisition of AGA Medical will benefit customers, employees and shareholders of both companies," said Daniel J. Starks, chairman, president and CEO of St. Jude Medical. "AGA Medical has developed technologies with proven clinical outcomes. It has a strong core business with an enviable pipeline of products and clinical trials. We look forward to AGA Medical employees joining St. Jude Medical and to the further development of these programs."

"In St. Jude Medical we have found a partner that shares our commitment to develop innovative products that support the vision, leadership and innovation of our co-founder, Dr. Kurt Amplatz, whose ground-breaking devices have improved the lives of patients around the world, and with whom we look forward to continuing to work in the future,” said John Barr, president and CEO of AGA Medical. “We are very pleased to be joining St. Jude Medical, which – through its geographic scale, expertise and resources – will help us expand the reach of our products both geographically and across physician specialties.”

Following the completion of the transaction, AGA Medical will become part of St. Jude Medical’s Cardiovascular Division. AGA Medical President and CEO John Barr agreed to join St. Jude Medical, reporting to Cardiovascular Division President Frank Callaghan. St. Jude Medical plans to continue operations from AGA Medical’s current location in Plymouth, Minn.

For more information: www.amplatzer.com, www.sjm.com

Related Content

PFO occluder, amplatzer
Feature | Structural Heart Occluders| May 27, 2016 | Dave Fornell
May 27, 2016 — A U.S.
Watchman, left atrial appendage closure, LAA occluder, LAA. LAAO, laa occluder, left atrial appendage, Watchman

The Boston Scientific Watchman device is currently the only transcatheter LAA occluder cleared for use in the United States.

Feature | Left Atrial Appendage (LAA) Occluders| May 20, 2016 | Dave Fornell
Atrial fibrillation (AF) affects nearly 6 million Americans and the condition puts them at significantly greater risk
St. Jude Medical, EuroPCR 2016 studies, FFR, LAAO, left atrial appendage occlusion, fractional flow reserve, Amplatzer
News | Cath Lab| May 19, 2016
St. Jude Medical Inc. announced results from two cardiovascular clinical trials presented at EuroPCR 2016.
AtriCure, AtriClip PRO2 LAA Exclusion System, left atrial appendage, FDA clearance
Technology | Left Atrial Appendage (LAA) Occluders| April 29, 2016
April 29, 2016 — AtriCure Inc. announced U.S.
Sponsored Content | Videos | Left Atrial Appendage (LAA) Occluders| April 15, 2016
David Holmes, M.D., professor of medicine, Mayo Clinic College of Medicine and consultant, Department of Internal Med
aMAZE Trial enrollment, The Valley Hospital NJ, atrial fibrillation
News | Left Atrial Appendage (LAA) Occluders| March 16, 2016
The Valley Hospital in Ridgewood, N.J., is one of 15 U.S. sites currently enrolling patients in a research study...
AtriCure, AtriClip, ATLAS study, first patient enrolled, POAF, post-operative atrial fibrillation
News | Structural Heart| February 18, 2016
AtriCure Inc. announced that the first patient was enrolled and treated at PinnacleHealth Hospitals in Harrisburg, Pa...
Watchman, left atrial appendage closure, LAA occluder
Technology | Left Atrial Appendage (LAA) Occluders| February 09, 2016
February 9, 2016 — Boston Scientific Corp.
transcatheter repair of a mitral valve paravalvular leak

Transcatheter repair of a surgical mitral replacement paravalvular leak with an Amplatzer Vascular Plug II.

Feature | Heart Valve Technology| February 08, 2016 | Dave Fornell
Off-label use of the St.
Ernest Shackleton, hole in the heart, Endurance 100th anniversary, Ian Calder
News | Structural Heart| January 20, 2016
On the 100th anniversary of the Endurance expedition to Antarctica led by Sir Ernest Shackleton, doctors writing in the...
Overlay Init