St. Jude to buy maker of chronic pain device

April 20, 2015 4:05 PM

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St. Jude to buy maker of chronic pain device

St. Jude Medical Inc. will buy a California maker of a spinal cord stimulator for treating chronic pain.

Little Canada-based St. Jude will pay $175 million for Spinal Modulation when the deal closes, it said Monday. It will make more payments when Spinal Modulation's device receives U.S. regulatory approval and if the business hits revenue goals.

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