St. Jude to Streamline Divisions

St. Paul, MN-based St. Jude Medical has announced that it will streamline its cardiac surgery and cardiology divisions into a cardiovascular division.    The move is expected to save the medical device manufacturer in the long run while taking between a $25 million and $35 million in third-quarter charges during the reorganization.
   In an Associated Press story on the streamlining, Prudential analyst Larry Biegelsen said the company will eliminate 30 senior administrative positions as part of the restructuring. He added the changes will reduce annual selling, general and administrative expenses by $6 million.
   The new division will focus on developing medical device technology and services for patients with vascular diseases or structural heart defects. The company said its sales forces for the integrated divisions will remain specialized.
   St. Jude Medical added it plans to expand its sales force and introduce new products as part of its goal for 15 percent growth in 2007.