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St. Jude Medical Announces Death of Board Member Thomas H. Garrett

Thu, 08/23/2012 - 10:25am
The Associated Press

ST. PAUL, Minn.--(BUSINESS WIRE)--Aug 23, 2012--St. Jude Medical, Inc. (NYSE:STJ), a global medical device company, today announced that Thomas H. Garrett, III, the longest tenured member of its Board of Directors, has died after a courageous battle with multiple myeloma, a type of blood cancer.

“On behalf of the Board of Directors and the employees of St. Jude Medical, we extend our deepest sympathies to Tom's family and friends and the many colleagues whose lives he touched,” said Daniel J. Starks, chairman, president and chief executive officer of St. Jude Medical. “For the past three decades, Tom has embodied the profound integrity and commitment to excellence that defines our industry. We thank him for the many contributions he has made to St. Jude Medical. He will be missed.” Tom Garrett joined the St. Jude Medical Board of Directors in 1979 shortly after the company was founded. Over the next three decades, he was instrumental in advising St. Jude Medical through a number of transitions, including the appointment of more than six CEOs, and continued to play an important role in the navigation of legal matters the company faced at critical points throughout its development.

In honor of his many significant contributions to the company, St. Jude Medical renamed its scholarship program to the Thomas H. Garrett St. Jude Medical Scholarship Program in 2011. Through this program, St. Jude Medical will continue to provide assistance with college tuition to employees’ children in his memory.

About St. Jude Medical St. Jude Medical develops medical technology and services that focus on putting more control into the hands of those who treat cardiac, neurological and chronic pain patients worldwide. The company is dedicated to advancing the practice of medicine by reducing risk wherever possible and contributing to successful outcomes for every patient. St. Jude Medical is headquartered in St. Paul, Minn. and has four major focus areas that include: cardiac rhythm management, atrial fibrillation, cardiovascular and neuromodulation. For more information, please visit sjm.com.

Forward-Looking Statements This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Such forward-looking statements include the expectations, plans and prospects for the Company, including potential clinical successes, anticipated regulatory approvals and future product launches, and projected revenues, margins, earnings and market shares. The statements made by the Company are based upon management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include market conditions and other factors beyond the Company’s control and the risk factors and other cautionary statements described in the Company’s filings with the SEC, including those described in the Risk Factors and Cautionary Statements sections of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2011 and Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2012. The Company does not intend to update these statements and undertakes no duty to any person to provide any such update under any circumstance.

CONTACT: St. Jude Medical, Inc.

J.C. Weigelt Investor Relations 651-756-4347 jweigelt@sjm.com or Amy Jo Meyer Media Relations 651-756-3029 ameyer@sjm.com KEYWORD: UNITED STATES NORTH AMERICA MINNESOTA INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY CARDIOLOGY MEDICAL DEVICES SOURCE: St. Jude Medical, Inc. Copyright Business Wire 2012 PUB: 08/23/2012 10:25 AM/DISC: 08/23/2012 10:25 AM http://www.businesswire.com/news/home/20120823005796/

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