St. Jude Medical (STJ) Announces Agreement To Acquire Savacor, Inc. For $50 Million; Transaction Adds Savacor Heart Failure Sensor Technology Program To Cardiac Rhythm Management Business
12/1/2005 1:19:53 PM
ST. PAUL, Minn.--(BUSINESS WIRE)--Dec. 1, 2005--St. Jude Medical, Inc. (NYSE:STJ) announced today that it has signed a definitive agreement to acquire privately held Savacor, Inc. Based in Los Angeles, California, Savacor has heart failure diagnostic and therapy guidance products and technologies under development and in clinical evaluation. The company 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. Increased pressure in the left atrium is a predictor of pulmonary congestion, which is the leading cause of hospitalization for congestive heart failure patients.