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St. Jude Medical Inc. Message Board

  • slatersexit slatersexit Oct 10, 2012 6:59 PM Flag

    Optim (TM) insulated leads

    AorTech lnternational plc alleges material breach of contract by division of St Jude Medical...

    AorTech and its subsidiaries have served on St Jude a Rectification Notice which asserts material breaches by St. Jude under the Agreement and related agreements. To the extent the asserted breaches are capable of cure, the Rectification Notice provides for a 30 day Rectification Period for St. Jude to cure. The Board is informed and believes that the material breaches are likely not capable of cure....

    for full details go to Aortech (London, Aim Market)

    Any comments?

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    • According to MassDevice, St. Jude said, "The allegations raised by AorTech are without merit. The rectification notice St. Jude Medical has received from AorTech is based on inaccuracies and misrepresentations, and we will vigorously defend against these claim... St. Jude Medical has a sufficient supply of inventory from AorTech to continue manufacturing Optim-insulated leads and we have adopted other contingencies that will prevent any supply disruptions of Optim in the future. The manufacture and supply of our Optim-insulated leads will not be interrupted."

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