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    St. Jude Medical does some holiday shopping

    By Dan Haugen | Published Mon, Dec 22 2008 9:45 am

    St. Jude Medical spent the weekend wrapping up some last-minute holiday shopping.

    The St. Paul-based medical-device maker announced two acquisitions totaling more than $500 million.

    The company said Sunday that it has completed acquisition of Radi Medical Systems AB for $250 million. The Swedish firm is a world market leader for two cardiovascular medical devices that St. Jude doesn't currently manufacture or sell.

    St. Jude then announced this morning that it has signed an agreement to acquire an Israeli-based company called MediGuide for $283 million. The company makes a surgical navigation system that works like GPS inside the body.

    "We look forward to bringing this technology into our portfolio," St. Jude CEO Daniel Starks said in a statement, "so that we can further develop and capture these potential opportunities."

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