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Guidant announces more defibrillator problems

Guidant Corporation NYSE: GDT designs and manufactures artificial pacemakers, implantable defibrillators, stents, and other cardiovascular medical products. Their company headquarters is located in Indianapolis, Indiana. Their main competitors are Medtronic, St. Jude Medical, Boston Scientific, and Johnson and Johnson. Guidant was once a part of Eli Lilly. Image File history File links Wikinews-logo. ... Wikinews is a free content news source and a project of the Wikimedia Foundation. ... New York Stock Exchange (June 2003) The New York Stock Exchange (NYSE), also nicknamed the Big Board, is the largest stock exchange in the world (by dollar volume) and second largest by number of listings. ... This article is about a medical device which electrically stimulates the heart. ... Bold text A semi-automatic external defibrillator (AED) A defibrillator is a medical device used in the defibrillation of the heart. ... In medicine, a stent is an expandable wire mesh tube that is inserted into a hollow structure of the body to keep it open. ... Nickname: The Circle City, Indy, Naptown Motto: Official website: http://www. ... Official language(s) English Capital Indianapolis Largest city Indianapolis Area  - Total  - Width  - Length  - % water  - Latitude  - Longitude Ranked 38th 94,321 km² 225 km 435 km 1. ... Medtronic, Inc. ... The Boston Scientific Corporation (NYSE: BSX) is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a range of interventional medical specialties, including interventional cardiology, peripheral interventions, neurovascular intervention, electrophysiology, vascular surgery, endoscopy, oncology, urology and gynecology. ... Johnson & Johnson (NYSE: JNJ) is an international Pharmaceutical and Medical Devices manufacturer founded in 1885. ... One of the worlds largest corporations, Eli Lilly and Company NYSE: LLY is a global pharmaceutical company. ...

Acquisition by Johnson & Johnson, Device Recalls in 2005, and Merger with Boston Scientific

Johnson & Johnson announced that it was acquiring Guidant on December 15, 2004, for $76 a share, at a cost of $25.4 billion. The deal was approved by Guidant stockholders on April 27, 2005. On May 25, Guidant reported 26 cases of implantable defibrillator failure, including one death. The same day, the New York Times published an article accusing Guidant of waiting years before notifying physicians about the problems. On June 17, Guidant issued a safety advisory on seven models of defibrillator, followed a week later by advising doctors to discontinue use of four models. The scope of the problems steadily increased, and on July 18, Guidant issued a warning for nine different models of pacemakers from 1997 to 2000. December 15 is the 349th day of the year (350th in leap years) in the Gregorian calendar. ... 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... April 27 is the 117th day of the year (118th in leap years) in the Gregorian Calendar, with 248 days remaining. ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... May 25 is the 145th day of the year in the Gregorian calendar (146th in leap years). ... Bold text A semi-automatic external defibrillator (AED) A defibrillator is a medical device used in the defibrillation of the heart. ... The New York Times is an internationally known daily newspaper published in New York City and distributed in the United States and many other nations worldwide. ... June 17 is the 168th day of the year in the Gregorian calendar (169th in leap years), with 197 days remaining. ... July 18 is the 199th day (200th in leap years) of the year in the Gregorian Calendar, with 166 days remaining. ...

The next day, Johnson & Johnson warned that the acquisition may be delayed due to these issues. On September 22, Guidant issued safety advisories and recalls for 170,000 of their pacemakers, 56% of their total pacemakers. On October 18, Johnson & Johnson gave an announcement that they were exploring alternatives to the acquisition, followed by a November 2 warning that they might pull out of the deal due to the regulatory issues and legal liabilities. September 22 is the 265th day of the year in the Gregorian calendar (266th in leap years). ... October 18 is the 291st day of the year (292nd in Leap years). ... November 2 is the 306th day of the year (307th in leap years) in the Gregorian Calendar, with 59 days remaining. ...

On November 7, Guidant sued Johnson & Johnson to force them to complete the deal. On November 15, the two companies announced a renegotiated purchase price of $63 a share, or $21.5 billion, a 15% price reduction. On December 5th, 2005, Boston Scientific made an $25 billion bid to acquire Guidant, offering $72 per share of Guidant, $36 in cash and a fixed number of Boston Scientific shares valued at $36 a share. Guidant's stock price rose 10% on the news. November 7 is the 311th day of the year (312th in leap years) in the Gregorian Calendar, with 54 days remaining. ... November 15 is the 319th day of the year (320th in leap years) in the Gregorian Calendar, with 46 days remaining. ... The Boston Scientific Corporation (NYSE: BSX) is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a range of interventional medical specialties, including interventional cardiology, peripheral interventions, neurovascular intervention, electrophysiology, vascular surgery, endoscopy, oncology, urology and gynecology. ...

On 25 January 2006, Guidant accepted a $27 billion offer from Boston Scientific after Johnson & Johnson refused to raise their bid higher than $24.2 billion. Guidant will pay a $705 million termination fee to Johnson & Johnson.

Locations

• Indianapolis, Indiana (Guidant World Headquarters)
• Redmond, Washington (Cardiac Rhythm Management)
• Santa Clara, California (Vascular Intervention, Endovascular Solutions, Cardiac Surgery)
• St. Paul, Minnesota (Cardiac Rhythm Management)
• Temecula, California (Vascular Intervention)
• Clonmel, Ireland (Manufacturing)
• Dorado, Puerto Rico (Manufacturing)

Nickname: The Circle City, Indy, Naptown Motto: Official website: http://www. ... Official language(s) English Capital Indianapolis Largest city Indianapolis Area  - Total  - Width  - Length  - % water  - Latitude  - Longitude Ranked 38th 94,321 km² 225 km 435 km 1. ... Nickname: Motto: Official website: http://www. ... Official language(s) None Capital Olympia Largest city Seattle Area  - Total  - Width  - Length  - % water  - Latitude  - Longitude Ranked 18th 184,824 km² 385 km 580 km 6. ... Location Location of Santa Clara within Santa Clara County, California. ... Official language(s) English Capital Sacramento Largest city Los Angeles Area  - Total  - Width  - Length  - % water  - Latitude  - Longitude Ranked 3rd 410,000 km² 402. ... State capitol building in Saint Paul Saint Paul is the capital and second-largest city of the state of Minnesota in the United States of America. ... Official language(s) None Capital Saint Paul Largest city Minneapolis Area  - Total  - Width  - Length  - % water  - Latitude  - Longitude Ranked 12th 225,365 km² 400 km 645 km 8. ... Temecula is a city located in Riverside County, California. ... Official language(s) English Capital Sacramento Largest city Los Angeles Area  - Total  - Width  - Length  - % water  - Latitude  - Longitude Ranked 3rd 410,000 km² 402. ... Clonmel (Cluain Meala in Irish) is a medium-sized town situated in south County Tipperary, Ireland. ... Dorado is a small touristic town in the northern coast of Puerto Rico, west of San Juan, Cataño, and Bayamon. ...

External link

• Guidant official website