St. Jude Buys Radi Medical for $250M

The purchase of Radi Medical System AB for $250 million in cash by St. Jude Medical is complete, according to the companies.

Uppsala, Sweden-based Radi Medical Systems leads the industry in two segments of the market for cardiovascular medical devices in which St. Jude Medical does not participate now. Radi Medical Systems is expected to bring in about $80 million in sales this year, a 19% boost from 2007.

Radi Medical Systems’ pressure measurement guidewire, PressureWire Certus, comprises about a 70 percent share of the global market for physiological assessment of coronary lesions. The product is supported by a large body of clinical evidence, including the “Fractional Flow Reserve vs. Angiography for Multivessel Evaluation” study.

The results of the study were presented at the Transcatheter Cardiovascular Therapeutics conference in October, and can be viewed at www.famestudy.com.

Radi Medical Systems’ FemoStop and RadiStop product lines make up about a 60 percent share of the global market for manual compression-assist products for vascular closure. This market totaled about $45 million this year, and is projected to continue to grow at least at a mid single-digit rate.

The FemoStop and RadiStop product lines, together with St. Jude Medical’s Angio-Seal line of active vascular closure products, will be part of an expanded program by St. Jude Medical to develop the potential of a global vascular closure device market, which is now only about 27 percent penetrated.