ST. JUDE AGREES TO ACQUIRE ADVANCED NEUROMODULATION SYSTEMS FOR $1.3 BILLION
Looking to expand into the underpenetrated neuromodulation market, St. Jude Medical has signed a definitive agreement to purchase Advanced Neuromodulation Systems (ANS) for approximately $1.3 billion.
ANS is a technology leader in the estimated $1 billion neuromodulation medical device market and holds a strong No. 2 market share position in the spinal cord stimulation segment, St. Jude said. Neuromodulation is the delivery of very small, precise doses of electricity or drugs directly to nerve sites and is aimed at treating patients suffering from chronic pain or other disabling nervous system disorders.
ANS also has clinical trials underway for new indications to address the expanding markets for Parkinson's disease and essential tremor. The neuromodulation market has experienced growth of over 20 percent during the last several years, with continued robust growth expected.
Once the sale closes, ANS will become a newly created division of St. Jude. Current ANS President and CEO Chris Chavez and other members of the firm's executive management team are expected to remain with the combined company, St. Jude said.