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ACCT - Financial Analysis

ACCT - Financial Analysis - Alex Fish ACCT-042 Professor...

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Alex Fish ACCT-042 Professor Hillman 3/8/2009 Financial Statement Analysis of St. Jude Medical St. Jude Medical is a publicly traded corporation with operations across the globe, in over 100 countries. Their headquarters is located in St. Paul Minnesota; the company was founded in 1976. They are a multi-billion dollar company: their sales in 2008 exceeded four billion dollars (St. Jude). They have over 14000 employees all across the world. FORTUNE Magazine named St. Jude Medical one of America’s “Most Admired Companies” for the last five years. Similarly, BusinessWeek Magazine named the company one of the “50 Best Places to Launch a Career”, in 2007. St. Jude Medical continues to be named the number one company in many aspects, including management among other traits, in their field or work, which is medical devices and health care (St. Jude). They primarily deal with research development and production of medical devices including, among many others, pacemakers and various types of defibrillators. St. Jude has always been in the medical device industry, throughout its history. The company, from its beginnings in 1976 in Minnesota, has since expanded into a billion dollar Multinational Corporation. The company began as a heart valve manufacturer, and has since expanded into pacemakers and defibrillators. They are committed “to reduce risk and improving patient outcomes by continuously finding ways to put more control into the hands of those who save and restore lives” (St. Jude). Within one year of their founding, St. Jude heart valves were being implanted in patients whose hearts were dysfunctional. After receiving their US FDA approval for heart valves, the company’s sales began expanding (St. Jude). In the 1990s, St. Jude Medical acquired numerous smaller companies, expanding their sales base greatly; these acquisitions include, among others: Pacesetter Inc, a cardiac rhythm management company; Daig Corporation, a Minnesota based catheter company; and Biocor, a tissue valve company in Brazil. By the new millennium, St Jude had implanted over one million heart
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valves in patients across the globe (St. Jude). In the twenty-first century, there were many more acquisitions by St. Jude, increased sales, and a stock split in 2004. As of late, their product base has shifted from artificial heart valve development, and has shifted towards pacemakers and defibrillators. Within this decade, St. Jude has received dozens of FDA approvals for revolutionary products designed to save lives and increase a patient’s health. Last year, the company received approvals for many products, specifically ones designed to create 3-D heart models for study, ones designed to battle chronic pain through neuro-stimulation, and software designed to map arrhythmia, which is unnatural electro-static activity near the heart that can be dangerous to a patient (St. Jude). They were named the “Most Admired Medical and Other Precision Equipment Company” by FORTUNE Magazine for a second year in a row.
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