St. Jude to acquire CardioMEMS following FDA approval of device

May 28, 2014 6:06 PM

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May 28 (Reuters) - St. Jude Medical Inc said on Wednesday it plans to exercise its option to buy the shares of CardioMEMS it does not already own for $375 million following news the Food and Drug Administration has approved CardioMEMS's wireless heart device.

The implantable device is designed for use in managing patients with heart failure. It records pulmonary artery pressure and transmits it to physicians, who can monitor it remotely and manage the condition.

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