St. Jude Medical to merge cardiac surgery, cardiology divisions

By Elaine Rigoli

Tampa, Fla., Aug. 28 - St. Jude Medical, Inc. said it is combining its cardiac surgery and cardiology divisions to create a new cardiovascular division, effective Jan. 1.

As a result of these restructuring plans, St. Jude Medical will incur a pre-tax charge of $25 million to $35 million during the third quarter of 2006.

The company said this is part of its comprehensive program to position St. Jude Medical to deliver a minimum 15% growth in 2007 and beyond.

The cardiovascular division will focus on developing medical device technology and services to help patients who suffer from vascular disease or structural heart defects.

The cardiovascular division will incorporate the activities currently managed by the cardiac surgery division and by the cardiology division.

St. Jude Medical said it will continue to have specialized cardiac surgery and cardiology sales forces.

In addition, the company said it is making several changes to enhance the efficiency and effectiveness of its sales and customer service operations in certain international geographies.

St. Jude Medical, based in St. Paul, Minn., is a medical device technology and services company.

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