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CardioMEMS Recognized by Georgia Bio for Pivotal Strategic Partnership
Date:1/21/2011

hat is implanted into the patient's pulmonary artery using a simple, catheter-based procedure. The pulmonary artery pressure is then measured and displayed using the CardioMEMS proprietary electronic monitoring system. Following the procedure, patients perform wireless measurements of their pulmonary artery pressure from home. The pressure data is immediately transmitted to a secure database and is available for review by the implanting physician on the CardioMEMS proprietary website.

St. Jude Medical's $60 million investment provided the global medical device company a 19% ownership in CardioMEMS and an exclusive option to acquire the remaining 81% of CardioMEMS for an additional $375 million during a period that extends through the completion of certain commercialization milestones. In May 2010, CardioMEMS raised approximately $38 million in a financial investor round lead by John Huntz and the Atlanta office of Arcapita, a global investment company.  With the strategic investment by St. Jude Medical, CardioMEMS has raised over $98 million in 2010.

In addition to a Georgia Bio 2011 Deal of the Year award, the Southeastern Medical Device Association (SEMDA) awarded Dr. Yadav its 2010 SpotLight Award for outstanding achievement in fostering the growth of the medical device community in the Southeast, and TiE Atlanta recognized CardioMEMS with its 2010 Entrepreneurial Award for the Deal of the Year for securing the St. Jude Medical investment. Dr. Yadav also delivered the keynote speech recently for Southeast BIO's (SEBIO) 12th Annual Investor Forum where he shared his views on the challenges of building innovative medical device start-up companies to over 350 biotech and medical technology executives, entrepreneurs, venture capitalists and investment bankers from the Southeast.

About Georgia Bio

Georgia Bio is the private, non-profit association representing nearly 300 pharmaceutical, biotech and medical device companies, univ
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SOURCE CardioMEMS, Inc.
Copyright©2010 PR Newswire.
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