St. Jude buys Nanostim for $123.5M

St. Jude Medical acquired Nanostim, a developer of miniaturized leadless pacemakers, for $123.5 million after a two-year partnership with the company.

Nanostim’s leadless pacemaker received CE Mark in Europe and conditional approval from the FDA to test the product. The small leadless pacemaker is delivered via a catheter in the femoral vein to the heart. The device is retrievable to replace the battery or reposition it during delivery.

The agreement includes a $65 million cash payment to Milpitas, Calif.-based Nanostim, contingent on meeting defined milestones. St. Jude is based in St. Paul, Minn.