ST. JUDE MEDICAL, INC. INVESTS IN INCONTROL, INC.
ST. PAUL, Minn., Aug. 17 /PRNewswire/ -- St. Jude Medical, Inc. (NASDAQ-NMS: STJM) today announced that it has made an equity investment in InControl, Inc. (Redmond, Washington), a privately-held medical device company. InControl was founded in 1990 with the goal of developing products to treat and diagnose heart rhythm disorders. Working with leading medical researchers worldwide, InControl's first implantable product is being designed to detect atrial fibrillation and automatically convert it to a normal rhythm.
Atrial fibrillation affects up to 4 percent of
Americans over the age of 60 and is associated with reduced cardiac output, congestive heart failure, a five fold increased risk for stroke and a two times greater risk of death. No other implantable medical devices currently exist for the treatment of atrial fibrillation and available therapeutic options are limited by high recurrence rates and potentially severe side effects.
"We are pleased to have St. Jude Medical as an investor in InControl," said Kurt C. Wheeler, InControl's cofounder, president and chief executive officer. "St. Jude Medical has a reputation for developing outstanding products with unsurpassed quality and their presence as a significant shareholder will serve InControl well as its products are introduced to the cardiology community." Ronald A. Matricaria, St. Jude Medical's president and chief executive officer, stated "We are interested in promising medical technologies where St. Jude Medical can add value through its worldwide market presence and other strengths. We believe that treatment of atrial fibrillation will develop into a very significant segment of the cardiac rhythm management market. InControl is at the leading edge of development of an implantable product to treat atrial fibrillation." St. Jude Medical, Inc. is a multinational manufacturer and marketer of the world's leading mechanical heart valve. With over 480,000 heart valve implantations, St. Jude Medical serves physicians worldwide with the highest quality products for cardiovascular care. -0- 8/17/93 /CONTACT: Paul Vetter, asst. treasurer, 612-481-7791, or Steve Wilson, V.P. finance & CFO, 612-481-7542, both of St. Jude Medical/ (STJM)
CO: St. Jude Medical, Inc. ST: Minnesota IN: MTC SU:
DB -- MN011 -- 3737 08/17/93 17:02 EDT
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|Date:||Aug 17, 1993|
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