Final exchange ratio announced in merger of St. Jude Medical, EP MedSystems

By Lisa Kerner

Charlotte, N.C., July 2 - St. Jude Medical, Inc. said 0.0738 is the final exchange ratio for the stock portion of the merger consideration in its acquisition of EP MedSystems, Inc.

The final exchange ratio valued St. Jude Medical common stock at $40.67 per share, which is the average closing price over 10 consecutive trading days ending on and including July 1, a St. Jude news release stated.

EP MedSystems shareholders had until July 1 to elect to receive either $3.00 in cash or approximately $3.00 of St. Jude Medical common stock for each EP MedSystems share they own, subject to proration.

It was previously reported that the merger would close July 3 pending EP MedSystems shareholder approval.

St. Jude Medical said it agreed to acquire EP MedSystems for about $92.1 million to expedite St. Jude Medical's entry into the high-growth intracardiac ultrasound echocardiography market.

St. Jude Medical manufactures and distributes cardiovascular medical devices and implantable neurostimulation devices. The company is based in St. Paul.

Based in West Berlin, N.J., EP MedSystems develops electrophysiology products used to diagnose and treat cardiac rhythm disorders.

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