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St Jude Medical Inc (NYS: STJ) (inactive)+ to Company Analysis List
Address: One St. Jude Medical Drive,St. Paul, MN 55117 United States  |  Phone: 651 756-2000  |  Fax: 651 756-3301  |  Company Website: www.sjm.com

Incorporated: May 1976 , MN, United States

IRS Number: 411276891

Auditor: Ernst & Young LLP

Transfer Agent: Wells Fargo Shareowner Services, Mendota Heights, MN

Country:  United States

Industry: Medical Equipment (ICB 20102010)

Industry: Electromedical equipment (SIC 3845)

Industry: Electromedical and Electrotherapeutic Apparatus Manufacturing (NAICS 334510)

Number of Employees: 18,000 (Approximate Full-Time as of 01/02/2016)

Number of Shareholders: 1,765 (record) (as of 02/19/2016)

Market Cap: 23,091,567,120

Revenue: 5,956,000,000

Net Income: 658,000,000

Dividend: 1.22    Dividend Yield: 1.5095

EPS Basic: 2.3    EPS Diluted: 2.28

PE Ratio: 32.4578

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History

Incorporated in Minnesota on May 12, 1976.

On Apr. 1, 1984, Co. purchased technology from BioPolyMeric.

In Sept. 1986, Co. acquired all the assets of BioImplant Canada Inc. for $805,000 in cash.

On Dec. 22, 1988, Co. acquired the business and assets of Aries Medical, Inc. for $8,000,000 in cash.

In Apr. 1989, Co. acquired technology and assets from Symbion Inc. for $7,450,000.

On Sept. 30, 1994, Co. acquired from Siemens AG substantially all the worldwide assets of its cardiac rhythm management operations, Pacesetter, Inc., for a price not to exceed $531,300.

On Jan. 5, 1996, Co. acquired The Heart Valve Company for $1,000,000 and 149,513 shares of its common stock.

On Jan. 19, 1996, Co. sold its cardiac assist division assets to C.R. Bard, Inc. for approx. $25,000,000 in cash.

On May 31, 1996, Co. acquired Daig Corporation (Daig), a manufacturer of specialized cardiovascular devices for the electrophysiology and interventional cardiology markets. Each share of Daig common stock was converted into 0.651733 shares of Co. common stock. Co. issued 9,929,897 shares to Daig shareholders.

On Sept. 23, 1996, Co. acquired the business of Biocor Industria E Pesquisas Ltd. for $4,000 in cash and an earn-out which could result in additional cash payments of up to $4,000 over the next three years.

In Oct. 1996, Co. acquired Ventritex, Inc.

In Oct. 1996, Co. acquired Medtel, an Asia-Pacific medical products distribution business.

On Nov. 29, 1996, Co. acquired from Pacific Dunlop, Ltd. substantially all of the worldwide cardiac rhythm management assets of Telectronics Pacing Systems, Inc. for $135,000,000.

On May 15, 1997, Co. merged with Ventritex Clears FTC. Under the terms of the merger, Ventritex stockholders will exchange their shares of common stock for approximately 10,400,000 shares of Co.'s common stock at an exchange ratio of 0.5 share of Co.'s common stock for each share of Ventritex common stock.

On Aug. 29, 1997, Co. disposed of Medtel to Getz Brothers and Co., Inc.

On Mar. 16, 1999, Co. purchased the Angio-Seal's business of Tyco International Ltd. for $167,000,000 in cash.

On Sept. 27, 1999, Co. purchased the outstanding common stock of VSI for $75,071,000 in cash, net of cash acquired, plus additional contingent consideration related to product development milestones for regulatory approvals and to future sales.

On Apr. 1, 2003, Co. acquired Getz Bros. Co., Ltd. (Getz Japan). Co. paid Y26,900,000,000 in cash to acquire 100% of the outstanding common stock of Getz Japan. Net consideration paid was $219,200,000 which includes closing costs less $12,000,000 of cash acquired.

On Apr. 1, 2003, Co. acquired the net assets of Getz Bros. & Co. (Aust.) Pty. Limited and Medtel Pty. Limited for $6,200,000 in cash, including closing costs.

In May 2003, Co. invested in Epicor Medical, Inc.

On June 8, 2004, Co. completed its acquisition of the remaining capital stock of Epicor Medical, Inc.

On Oct. 7, 2004, Co. completed its acquisition of Irvine Biomedical, Inc. (IBI). Co. paid approx. $44,800,000 to acquire the remaining 86% of the capital stock of IBI it did not already own.

On Jan. 13, 2005, Co. acquired Endocardial Solutions, Inc. for $279,400,000, which includes closing costs less $9,400,000 of cash acquired.

On Apr. 6, 2005, Co. acquired Velocimed, LLC for $70,900,000 in cash.

On Nov. 29, 2005, Co. acquired Advanced Neuromodulation Systems, Inc. for $61.25 per share in cash. Net consideration paid was $1,353,900,000, which includes closing costs less $5,100,000 of cash acquired.

On Dec. 30, 2005, Co. acquired Savacor, Inc. for $49,700,000 which includes closing costs less $400,000 in cash acquired, plus additional contingent payments related to product development milestones for regulatory approvals and related to revenues in excess of minimum future targets.

On July 3, 2008, Co. completed the acquisition of EP MedSystems, Inc., for $95,700,000, consisting of $59,000,000 in net cash consideration and direct acquisition costs and 900,000 shares of Co.'s common stock.

On Dec. 19, 2008, Co. completed the acquisition of Radi Medical Systems for $248,900,000 in net cash consideration, including direct acquisition costs.

On Dec. 22, 2008, Co. completed the acquisition of MediGuide, Inc., for $285,000,000 in net cash consideration, which included additional cash consideration payments of approximately $145,100,000 and direct acquisition costs.

In 2010, Co. acquired a 19% ownership interest in CardioMEMS, Inc. for $60,000,000. The agreement also provided Co. with the exclusive right, but not the obligation, to acquire CardioMEMS, Inc. for an additional payment of $375,000,000 during the period that extends through the completion of certain commercialization milestones.

On July 6, 2010, Co. completed its acquisition of LightLab Imaging, Inc. for $92,800,000 in net cash consideration.

On Nov. 18, 2010, Co. completed its acquisition of AGA Medical Holdings, Inc., by acquiring all of its outstanding shares for $20.80 per share in a cash and stock transaction valued at $1,100,000,000, which consisted of $549,400,000 in net cash consideration and 13,600,000 shares of Co.'s common stock. The transaction was consummated through an exchange offer followed by a merger.

On June 7, 2013, Co. made an equity investment of $40,000,000 in Spinal Modulation, Inc. (Spinal Modulation). The investment agreement resulted in a 19% voting equity interest and provided Co. the exclusive right, but not the obligation, to acquire Spinal Modulation for payments of up to $300,000,000 during the period that extends through the completion of certain regulatory milestones. Co. also committed to providing additional debt financing to Spinal Modulation of up to $15,000,000.

On Aug. 19, 2013, Co. acquired all the outstanding shares of Endosense S.A. for the equivalent of $171,000,000 in net cash consideration. Under the terms of the acquisition agreement, Co. is obligated to make an additional cash payment of up to approx. $167,000,000 at Dec. 28, 2013, contingent upon both the achievement and timing of U.S. Food and Drug Administration approval.

On Oct. 11, 2013, Co. acquired all the outstanding shares of Nanostim, Inc. for $121,000,000 in net cash consideration. Under the terms of the acquisition agreement, Co. is obligated to make additional cash payments of up to $65,000,000, contingent upon the achievement and timing of certain revenue-based milestones.

In May 2014, Co. exercised its purchase option to acquire the remaining 81% ownership interest in CardioMEMS, Inc. and paid $344,000,000 to shareholders and $18,000,000 for pre-existing fee and compensation arrangements.

In Aug. 2014, Co. acquired all the outstanding shares of NT Holding Company for $147,000,000 in net cash consideration and assumed $50,000,000 of debt, which has been repaid.

On Oct. 8, 2015, Co. acquired Thoratec Corp. for $3,479,200,000 in cash.

On Jan. 4, 2017, Abbott Laboratories ("Abbott") wholly-owned subsidiary, Vault Merger Sub, Inc., merged with and into Co., with Co. continuing as the surviving corporation and became a wholly-owned subsidiary of Abbott (the "First Merger"), promptly after the First Merger, Co. merged with and into Abbott wholly-owned subsidiary, into Vault Merger Sub, LLC, with Vault Merger Sub, LLC continuing as the surviving corporation and as a wholly owned subsidiary of Abbott and being renamed St. Jude Medical, LLC ("SJM LLC") (the "Second Merger" and together with the First Merger, the "Mergers"). As the result of the first merger, each share of Co. common stock issued and outstanding immediately prior to the first effective time was automatically converted into the right to receive 0.8708 of an Abbott common share and $46.75 in cash, without interest (the "Per Share Merger Consideration"), with any fractional Abbott common shares to be settled in cash. In connection with completion of the First Merger, vested options to purchase shares of Co.'s common stock were deemed exercised pursuant to a cashless exercise and the net number of shares of Co.'s common stock payable in respect thereto were converted into the right to receive the Per Share Merger Consideration, less applicable withholding taxes, with any fractional Abbott common shares to be settled in cash. In addition, unvested options and restricted stock units in respect of Co.'s common stock were assumed by Abbott and converted into Abbott options and restricted stock units (as applicable) of substantially equivalent value, in each case in accordance with the terms of the Merger Agreement. Based on the closing price of $39.36 for an Abbott common share on the New York Stock Exchange on Jan. 4, 2017, the aggregate implied value of the consideration paid in connection with the Mergers was approximately $23,600,000,000, including approximately $10,000,000,000 in Abbott common shares and approximately $13,600,000,000 in cash.



History for 2017

(select year below)

2017

On Jan. 4, 2017, Abbott Laboratories ("Abbott") wholly-owned subsidiary, Vault Merger Sub, Inc., merged with and into Co., with Co. continuing as the surviving corporation and became a wholly-owned subsidiary of Abbott (the "First Merger"), promptly after the First Merger, Co. merged with and into Abbott wholly-owned subsidiary, into Vault Merger Sub, LLC, with Vault Merger Sub, LLC continuing as the surviving corporation and as a wholly owned subsidiary of Abbott and being renamed St. Jude Medical, LLC ("SJM LLC") (the "Second Merger" and together with the First Merger, the "Mergers"). As the result of the first merger, each share of Co. common stock issued and outstanding immediately prior to the first effective time was automatically converted into the right to receive 0.8708 of an Abbott common share and $46.75 in cash, without interest (the "Per Share Merger Consideration"), with any fractional Abbott common shares to be settled in cash. In connection with completion of the First Merger, vested options to purchase shares of Co.'s common stock were deemed exercised pursuant to a cashless exercise and the net number of shares of Co.'s common stock payable in respect thereto were converted into the right to receive the Per Share Merger Consideration, less applicable withholding taxes, with any fractional Abbott common shares to be settled in cash. In addition, unvested options and restricted stock units in respect of Co.'s common stock were assumed by Abbott and converted into Abbott options and restricted stock units (as applicable) of substantially equivalent value, in each case in accordance with the terms of the Merger Agreement. Based on the closing price of $39.36 for an Abbott common share on the New York Stock Exchange on Jan. 4, 2017, the aggregate implied value of the consideration paid in connection with the Mergers was approximately $23,600,000,000, including approximately $10,000,000,000 in Abbott common shares and approximately $13,600,000,000 in cash.