Medical device maker St. Jude Medical on Friday announced its acquisition for $273 million of Dorsey client, St. Paul (Minn.)-based Endocardial Solutions, Inc., in a continuation of St. Jude's strategy to develop an atrial fibrillation division, according to CEO Dan Starks. Endocardial makes an advanced product used to treat atrial fibrillation, a leading cause of strokes.
Ken Cutler (attorney/corporate-Minneapolis), who has represented Endocardial for ten years and helped take the company public in 1997, led the Endocardial team, which included lawyers Phil Bauer and Sarah Kolar.
The sale of Endocardial was both rewarding and bittersweet, says Ken. “Rewarding because it represents the successful culmination of the management team's efforts to commercialize a new technology and create shareholder value.”
“Bittersweet because we were able to serve as advisors and watch the company grow — from its early stages trying to develop a product, through FDA approval and then commercialization, and through its series of venture financings, initial public offering, its series of PIPE transactions and throughout its seven-year history as a public company. We will miss the close relationships we were able to develop.”