Healthcare Industry News: neuromodulation
News Release - January 25, 2011
St. Jude Medical Earns CE Mark Approval for Manufacturing in MalaysiaST. PAUL, Minn.--(Healthcare Sales & Marketing Network)-- St. Jude Medical, Inc. (NYSE:STJ ), a global medical device company, today announced that the company’s new manufacturing facility in Penang Island, Malaysia has received European CE Mark approval for production of pacemakers and leads. The first products have already been shipped to the company’s distribution center in Veddesta, Sweden.
The state-of-the-art manufacturing facility will initially produce products for the company’s Cardiac Rhythm Management Division. In addition to pacemakers and leads, over the next several years St. Jude Medical plans to expand production to include additional products, such as implantable cardioverter defibrillators (ICDs).
“The new manufacturing facility in Malaysia provides St. Jude Medical with the opportunity to leverage our continued growth in international markets,” said Daniel J. Starks, Chairman, President and Chief Executive Officer of St. Jude Medical. “By expanding our global footprint, we have created a sustainable competitive advantage that will help us to provide our lifesaving technologies to even more patients and customers.”
The company broke ground on the more than 300,000 square-foot (28,000 square-meter) facility in June 2009. Approximately 130 employees currently work at the facility, and the company is on track to double the number by the end of 2011.
Late last year, St. Jude Medical announced the grand opening of a new manufacturing facility for the company’s cardiovascular and structural heart products in Costa Rica. The Malaysia and Costa Rica facilities are expected to provide greater alignment and efficiencies within the company’s operations.
About St. Jude Medical
St. Jude Medical develops medical technology and services that focus on putting more control into the hands of those who treat cardiac, neurological and chronic pain patients worldwide. The company is dedicated to advancing the practice of medicine by reducing risk wherever possible and contributing to successful outcomes for every patient. St. Jude Medical is headquartered in St. Paul, Minn. and has four major focus areas that include: cardiac rhythm management, atrial fibrillation, cardiovascular and neuromodulation. For more information, please visit 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 Risk Factors and Cautionary Statements sections of the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended October 2, 2010. 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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