St. Jude Buys ANS For $1.3 Billion

St. Paul, MN-based St. Jude Medical has acquired Plano, TX-based Advanced Neuromodulation Systems in a $1.3 billion deal that is expected to culminate at the end of 2005.
    St. Jude Medical, a maker of pacemakers and other implantable heart-monitoring devices, was looking to diversify its portfolio with the purchase of ANS, a medical device company that makes neuromodulation medical devices and devices for the spinal cord stimulation market.
    ANS, which was expected to have $145 million in revenues in fiscal 2005, will keep its headquarters in Plano, north of Dallas, as a division of St. Jude Medical, which had $2.3 billion in sales in 2004.
    According to St. Jude Medical, the acquisition is expected to add 5 percentage points of growth to fiscal 2006 revenues.