St. Jude Medical Inc. (NYSE:STJ) concluded its tender offer AGA Medical Holdings Inc. (NASDAQ:AGAM) and expects to close its $1.03 billion acquisition of the rival cardiovascular device maker today.
When St. Jude Medical Inc. (NYSE:STJ) completes its $1.3 billion acquisition of AGA Medical Holdings Inc. (NASDAQ: AGAM) at the end of the year, it will end one of the briefest, most disappointing and weirdest tenures of a publicly traded company in Minnesota's recent history. Lost in the hoopla over St. Jude's all-cash, $20.80-a-share offer for AGA is that the announcement comes three days before AGA's one-year anniversary as a publicly traded stock.
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St. Jude Medical Inc. (NYSE: STJ) said Monday it will acquire fellow Minnesota medical device maker AGA Medical Holdings Inc. (NASDAQ:AGAM) for $1.3 billion. Under terms of the all-cash agreement, St. Jude, based in Little Canada, will pay $20.80 for each share of AGA stock and assume $225 million in AGA debt. The company expects to close the deal by the end of the year.
AGA Medical Holdings, Inc. (NSDQ:AGAM) posted a 10 percent increase in sales during the second quarter, helping the company reverse a $2 million loss from the same period last year. For the three month period ended on June 30 the Minneapolis, Minnesota-based company posted a $3.6 million profit on $53.7 million, compared to a $2 […]
Cardiac and vascular device maker AGA Medical Holdings Inc. (NYSE: AGAM) has been awarded $2.6 million in damages by a German court in a patent-infringement case. AGA’s patent dispute with Germany-based Occlutech GmbH stretches back to 2006 and involves intravascular occlusion devices and the method of manufacturing those devices, according to a statement from Plymouth, […]
AGA Medical Inc. (NASDAQ: AGAM) has enrolled the first patient in a clinical trial of a cardiac device aimed at preventing strokes in patients with abnormal heartbeats. CEO John Barr called the first enrollment in the company’s Amplatzer Cardiac Plug trial “a significant milestone” for the company, according to a statement from AGA. The trial […]
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Tornier Inc. is planning to test the choppy waters of Wall Street with an estimated $205 million initial public offering, according to documents filed with the Securities and Exchange Commission. The orthopedics firm in Edina, Minn., which specializes in devices to treat injuries to extremities and small bones, is the third local medical device company […]
Shares of AGA Medical Holdings Inc. (NASDAQ: AGAM) fell more than 6 percent Tuesday after its top investor decided to divest a tenth of its holdings in the Plymouth, Minn.-based medical device maker. Welsh, Carson, Anderson & Stowe, a private equity firm and majority owner of AGA Medical, will disburse 2.4 million shares to its […]
Score the final round for device giant Medtronic Inc. in its three-year patent-infringement battle with AGA Medical Inc. over AGA’s Amplatzer cardiac plug. The two companies agreed to end the litigation with AGA paying Medtronic $35 million over four years. The final payment is due in 2014, according to a statement from AGA. In addition, […]
AGA Medical has received federal approval to begin a clinical trial of a heart device that’s designed to prevent strokes in patients with abnormal heartbeats. The trial is intended to evaluate the safety and efficacy of the company’s Amplatzer cardiac plug in preventing blood clots in the heart that can lead to strokes. The trial […]
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Someday, in the not-so-distant future, EnteroMedics Inc. officials might look back at late 2009 and laugh. Or cry. That ultimately depends on whether the Food and Drug Administration ultimately approves or rejects the company’s groundbreaking Maestro device. Approval means enormous financial success, the only implantable neurostimulation device in the United States designed to treat obesity. […]
The company received Chinese regulatory approval and licenses for its AMPLATZER PFO Occluder and AMPLATZER Multi-Fenestrated Septal Occluder "Cribriform." It also received approval, with a license pending, for its AMPLATZER Vascular Plug II. Septal occluders represent about 60 percent of company sales, while the PFO Occluder has represented about 15 percent of company sales in recent years, according to regulatory filings.
The California ruling deals AGA's with Amplatzer Occluder and vascular plug product lines, which help treat some forms of heart disease. Along with the $57 million, the jury said AGA would pay Medtronic 11 percent on future sales until 2018.
The Australian Therapeutic Goods Administration has approved St. Jude Medical's Libra and LibraXP deep brain stimulation devices that treat symptoms of Parkinson's disease. The device, which operates like a pacemaker to stimulate sections of the brain, is already approved for use in Europe and is in clinical trials in the United States for treating depression and Parkinson’s, among other things.