In addition, St Jude Medical announced the final allocation of cash and stock to EP MedSystems shareholders in connection with the acquisition.
As previously announced, under the terms of the merger agreement, EP MedSystems shareholders could elect to receive either $3 in cash or 0.0738 shares of St Jude Medical common stock for each share of EP MedSystems common stock, subject to proration so that 60% of the EP MedSystems shares are exchanged for cash and 40% are exchanged for shares of St Jude Medical common stock, determined as set forth in the merger agreement relating to the transaction.
In the aggregate, St Jude Medical will pay approximately $91 million, consisting of approximately $54.55 million in cash and approximately 898,000 shares of St Jude Medical common stock.
Daniel Starks, chairman, president and CEO of St Jude Medical, said: “We are pleased to have completed this transaction, which enables us to further enhance St Jude Medical’s program to help physicians cure atrial fibrillation.”