St. Jude Medical Creates New Cardiovascular Division

St. Jude Medical (St. Paul, MN, USA) is combining its cardiac surgery and cardiology divisions to create a new cardiovascular division.

The combination of the two divisions, which will become effective on January 1, 2007, is expected to accelerate product development and enhance operating efficiency. The merger is part of a comprehensive program to position St. Jude Medical to deliver a minimum growth of 15% in 2007 and beyond. The cardiovascular division will focus on developing and bringing to market medical device technology and services to help patients who suffer from vascular disease or structural heart defects. St. Jude Medical will continue to have specialized cardiac surgery and cardiology sales forces. The company is initiating several changes to enhance the efficiency and effectiveness of its sales and customer-service operations in certain international areas.

The new cardiovascular division will be led by George J. Fazio, who has served as president of St. Jude Medical's cardiac surgery division since 2004. Paul R. Buckman, currently president of St. Jude Medical's cardiology division, will become corporate vice president of business development.

"This strategic reorganization is another example of St. Jude Medical's commitment to continuous improvement and to focusing on the needs of our customers,” said Daniel J. Starks, chairman, president, and CEO of St. Jude Medical. "Our cardiology and cardiac surgery businesses will be stronger together than each business is separately. By streamlining our organization, we can boost operating efficiencies and ultimately use the associated savings to invest in research and development.”



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