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October 17, 2005
Advanced Neuromodulation Systems bought by St. Jude - $1.3B
Posted by Zack Lynch
The hot neurotech M&A market is getting hotter. On Sunday, St. Jude Medical announced that it has struck a deal to buy Texas-based Advanced Neuromodulation Systems Inc. for $1.3 billion.
The acquisition is in an effort capitalize on a new frontier in medical technology which involves using pacemaker technology to stimulate the spinal cord by using small bursts of electricity to treat a potentially vast array of conditions and diseases ranging from Parkinson's disease to obesity.
The neurostimulation market, currently dominated by Medtronic Inc., is estimated at $1 billion now and growing 20 percent annually. With the acquisition, St. Jude gains a solid foothold as No. 2 in the spinal cord stimulation market.
"This is the next hot growth area in medical device technology," Daniel Starks, St. Jude's chairman, president and CEO, said in an interview Sunday. "With this acquisition, we can jump right into it."
Look for more neurotech M&A and IPO activity in the coming months.
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