St. Jude completes $91M acquisition of EP MedSystems

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St. Jude Medical has completed its previously announced acquisition of EP MedSystems for approximately $91 million, which will expand the company’s atrial-fibrillation business.

The St. Paul, Minn.-based St. Jude said that under the terms of the merger agreement, EP MedSystems shareholders could elect to receive either $3 in cash with the option of receiving cash or St. Jude common stock.

St. Jude also said that its board authorized an additional $50 million stock buyback to offset the shares issued in the transaction. 

In the aggregate, St. Jude will pay approximately $91 million, consisting of approximately $54,558,607 in cash and approximately 898,000 shares of St. Jude Medical common stock.

EP MedSystems of West Berlin, N.J., develops, manufactures and markets a line of products for use in the cardiac rhythm management or electrophysiology market, which are used for visualization, diagnosis and treatment of cardiac rhythm disorders.