St. Jude Medical focuses on wireless patient monitoring

St. Jude Medical has upped its interest in wireless patient monitoring technology, acquiring a 19 percent stake in CardioMEMS for $60 million while locking in the rights to buy the Atlanta-based developer of an implantable device that tracks blood pressure in the heart.

CardioMEMS' device displays the blood pressure data via an electronic monitoring system. This data is transmitted to a secure database and can be reviewed by the patient’s healthcare provider on a proprietary, secure Web site.

According to a Minneapolis/St. Paul Business Journal report: "Study results released in May found the device reduced hospital readmissions for heart failure patients, St. Jude said. CardioMEMS will seek regulatory approval before beginning large-scale manufacturing next summer. The company expects to invest about $30 million in commercializing the device."

Although the deal won't affect St. Jude's 2010 earnings outlook, it's worth noting how the organization is positioning for the inevitable run-up in demand for wireless patient monitoring technologies.