www.fdanews.com/articles/70890-st-jude-completes-acquisition-of-velocimed
St. Jude Completes Acquisition of Velocimed
April 8, 2005
St. Jude Medical announced it has completed the acquisition of the business of Velocimed, a privately owned company that develops, manufactures and markets specialty interventional cardiology devices.
Under the terms of the deal, St. Jude is paying $74 million in cash for Velocimed with further contingent payments due upon achievement of regulatory and other milestones, the earliest of which would be paid in March 2007.
In conjunction with the completion of this transaction, St. Jude expects to record a special charge of approximately $13.8 million in the second quarter related to purchased in-process R&D.