Healthcare Industry News: St Jude Medical
News Release - October 11, 2007
St. Jude Medical Awarded Contract for Cardiac Rhythm Management DevicesOne of the nation's largest group-purchasing organizations, Premier Purchasing Partners, L.P., selects St. Jude Medical as one of three CRM suppliers
ST. PAUL, Minn.--(HSMN NewsFeed)--St. Jude Medical, Inc. (NYSE:STJ ) today announced that it has been awarded a Cardiac Rhythm Management (CRM) contract with Premier Purchasing Partners, L.P., one of the nation's largest healthcare purchasing alliances.
"St Jude Medical is a highly regarded vendor that continues to demonstrate motivation to enhance our members' efforts to drive value, manage risks and improve patient safety," said Mike Alkire, president of Premier Purchasing Partners. "This new agreement supports our goal to deliver products and services that truly offer our members economic value."
St. Jude Medical began its CRM relationship with Premier in 2004 through pacemaker and implantable cardioverter defibrillator (ICD) contract awards. The new contract will now include the complete line of St. Jude Medical CRM products, including the expanding line of cardiac resynchronization therapy (CRT) products.
"We are pleased to continue our partnership with Premier, their member hospitals and their physicians, providing a full line of high-quality cardiac rhythm management devices for their patients," said Michael T. Rousseau, president of St. Jude Medical's U.S. Division. "The contract award speaks to the advancements St. Jude Medical has made in becoming a leader in CRM innovation and therapy."
About Premier Inc.
Serving 1,700 hospitals and more than 47,000 other healthcare sites, Premier is the largest healthcare alliance in the United States dedicated to improving patient outcomes while safely reducing the cost of care. Owned by not-for-profit hospitals, Premier operates the nation's largest healthcare purchasing network, the most comprehensive repository of hospital clinical and financial information and one of the largest policy-holder owned, hospital professional liability risk-retention groups in healthcare. Headquartered in San Diego, Premier has offices in Charlotte, N.C., Philadelphia and Washington. For more information, visit www.premierinc.com.
About St. Jude Medical
St. Jude Medical is dedicated to making life better for cardiac, neurological and chronic pain patients worldwide through excellence in medical device technology and services. The Company has five major focus areas that include: cardiac rhythm management, atrial fibrillation, cardiac surgery, cardiology and neuromodulation. Headquartered in St. Paul, Minn., St. Jude Medical employs approximately 12,000 people worldwide. For more information, please visit www.sjm.com.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Such forward-looking statements include the expectations, plans and prospects for the Company, including potential clinical successes, anticipated regulatory approvals and future product launches, and projected revenues, margins, earnings, and market shares. The statements made by the Company are based upon management's current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include market conditions and other factors beyond the Company's control and the risk factors and other cautionary statements described in the Company's filings with the SEC, including those described in the Company's Annual Report on Form 10-K filed on February 28, 2007 (see pages 13-20) and Quarterly Report on Form 10-Q filed on August 9, 2007 (see pages 26-29). The Company does not intend to update these statements and undertakes no duty to any person to provide any such update under any circumstance.
Source: St. Jude Medical
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