M&A Deal Summary

St. Jude Medical Acquires Neurotherm

On August 11, 2014, St. Jude Medical acquired medical products company Neurotherm from Linsalata Capital Partners for 200M USD

Acquisition Highlights
  • This is St. Jude Medical’s 15th transaction in the Medical Products sector.
  • This is St. Jude Medical’s 8th largest (disclosed) transaction.
  • This is St. Jude Medical’s 13th transaction in the United States.
  • This is St. Jude Medical’s 2nd transaction in Massachusetts.

M&A Deal Summary

Date 2014-08-11
Target Neurotherm
Sector Medical Products
Buyer(s) St. Jude Medical
Sellers(s) Linsalata Capital Partners
Deal Type Add-on Acquisition
Deal Value 200M USD
Advisor(s) Piper Sandler & Co. (Financial)
Calfee, Halter & Griswold (Legal)

Target

Neurotherm

Wilmington, Massachusetts, United States
NeuroTherm is a developer, manufacturer and provider of medical products used in interventional pain management. NeuroTherm’s products include radiofrequency (“RF”) generators and related consumable products as well as epidural catheters, discography devices, intradiscal therapies, pharmaceutical compounding and procedure tables. Neurotherm was formed in 2005 and is based in Wilmington, Massachusetts.

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Buyer(S) 1

Buyer

St. Jude Medical

Saint Paul, Minnesota, United States

Category Company
Founded 1976
Sector Medical Products
Employees18,000
Revenue 5.5B USD (2016)
DESCRIPTION
Entrance to St. Jude Medical's corporate headquarters in St. Paul, Minnesota.
Entrance to St. Jude Medical's corporate headquarters in St. Paul, Minnesota.

St. Jude Medical, Inc. is a medical device manufacturer dedicated to transforming the treatment of most expensive, epidemic diseases. St. Jude Medical five major areas of focus that include heart failure, atrial fibrillation, neuromodulation, traditional cardiac rhythm management and cardiovascular. St. Jude Medical was formed in 1976 and is based in St. Paul, Minnesota.


DEAL STATS #
Overall 16 of 18
Sector (Medical Products) 15 of 17
Type (Add-on Acquisition) 15 of 17
State (Massachusetts) 2 of 2
Country (United States) 13 of 15
Year (2014) 1 of 1
Size (of disclosed) 8 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-11 Nanostim

Milpitas, California, United States

Nano­stim Inc., giving the Little Canada-based medical technology company the world’s first commercially available “leadless” pacemaker.

Buy $124M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-04 Spinal Modulation

Menlo Park, California, United States

Spinal Modulation, Inc. is a developer of the Axium Neurostimulator System.

Buy -

Seller(S) 1

SELLER

Linsalata Capital Partners

Mayfield Heights, Ohio, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 1.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Linsalata Capital Partners is a middle-market buyout firm that targets equity investments in businesses operating in a broad range of industries. Linsalata looks to invest $15 to $50 million in businesses generating at least $5 million in EBITDA. The Firm will consider transactions valued up to $300 million. Target sectors include automotive aftermarket products, building products, business services, aerospace, commercial durables, consumer packaged goods, contract manufacturing services, direct marketing, education, ethnic products, food and beverage, food service equipment, health and safety products, healthcare services and outsourcing, hobby/crafts, home furnishing, home improvement products, industrial products, infastructure products, leisure/recreation, logistics, medical devices and diagnostics, niche apparel, outdoor/garden living, packaging, personal services, pet products and services, and plastics. Linsalata Capital was formed in 1984 and is based in Mayfield Heights, Ohio.


DEAL STATS #
Overall 28 of 41
Sector (Medical Products) 1 of 1
Type (Add-on Acquisition) 14 of 21
State (Massachusetts) 2 of 2
Country (United States) 28 of 41
Year (2014) 1 of 4
Size (of disclosed) 4 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-15 Royal Baths Manufacturing

Houston, Texas, United States

Royal Baths is a manufacturer of acrylic and cultured marble bathroom products, including soaker and whirlpool tubs, vanity tops, sinks, and shower walls and bases. The company has manufacturing operations in Texas and distribution facilities in Florida. The company sells directly to residential builders and provides installation of cultured marble product sales.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-15 Home Décor Holding

Bono, Arkansas, United States

Home Décor Holding Co. is a Provider of wall decor, lamps, decorative pillows, throw blankets, accent furniture and accessories.

Sell -