UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
APRIL 3, 1997
ANGEION CORPORATION
(Exact name of registrant as specified in its charter)
Minnesota 0-17019 41-1579150
(State of incorporation) (Commission (I.R.S. Employer
File Number) Identification No.)
3650 Annapolis Lane, Suite 170, Minneapolis, Minnesota 55447
(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: 612/550-9388
Item 5. Other Events.
Filed herewith as Exhibit 99.1 and incorporated herein by reference is
a press release dated April 3, 1997 reporting that Angeion Corporation (the
"Company") has signed a cross licensing agreement with St. Jude Medical, Inc.
("St. Jude") that will become effective upon the closing of St. Jude's pending
merger with Ventritex, Inc.
Item 7. Financial Statements and Exhibits.
c. Exhibits
99.1 Press Release, dated April 3, 1997
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ANGEION CORPORATION
/s/ David L. Christofferson
David L. Christofferson
Vice President and Chief Financial Officer
Dated: April 3, 1997
INDEX TO EXHIBITS
Exhibit No. Item Method of Filing
- ----------- ---- ----------------
99.1 Press Release, dated April 3, 1997 Filed herewith electronically.
EXHIBIT 99.1
ANGEION SIGNS CROSS-LICENSING AGREEMENT WITH ST. JUDE;
FREES ANGEION TO SIGN DISTRIBUTORS
MINNEAPOLIS (April 3, 1997) -- Angeion Corporation (Nasdaq:ANGN) announced today
that it has signed a royalty-free cross-licensing agreement with St. Jude
Medical, Inc. (NYSE:STJ) and its Pacesetter subsidiary which will become
effective upon closure of the Pacesetter merger with Ventritex. This merger will
be consummated following the expiration of all applicable Hart-Scott-Rodino
waiting periods, and approval by the shareholders of Ventritex. The agreement
provides the companies with mutual access to all tachyarrhythmia and
bradyarrhythmia patents filed to date. Angeion will receive royalty-free access
to all of the related intellectual property of St. Jude and its Pacesetter
subsidiary, as well as the newly acquired brady and tachyarrhythmia intellectual
property of Telectronics and all of the intellectual property of Ventritex,
following the completion of the merger.
This agreement will involve more than 500 tachyarrhythmia and bradyarrhythmia
patents of both parties issued to date. Key among them are Telectronics'
antitachycardia pacing patents, Pacesetter's brady and device communications and
Angeion's small size, dual battery and small capacitor patents.
This agreement replaces the OEM marketing and manufacturing agreements and
license agreement signed between Angeion and St. Jude/Pacesetter in 1993 and
allows Angeion to pursue various distribution relationships with other companies
in the medical industry.
"This cross-licensing arrangement is a validation of the value of our patent
portfolio and an opportunity for Angeion to access the largest combined
portfolio of intellectual property in the industry -- without the payment of
royalties or other fees," said Whitney A. McFarlin, Angeion Chairman, President
and CEO.
"The dissolution of the 1993 agreements gives Angeion the flexibility we need to
build our position in the market and negotiate a variety of favorable marketing,
distribution and licensing relationships that reward the Company's technological
expertise, innovative ideas and growing intellectual property portfolio. This
will provide Angeion with greater control and flexibility in framing our
future," added McFarlin.
Angeion Corporation, founded in 1986 with headquarters in Minneapolis, is an
innovative, rapidly-growing medical device company designing, developing,
manufacturing and marketing sophisticated medical devices for the treatment of
life-threatening cardiac arrhythmias (abnormal heartbeats). Its pioneering
advancements have led the way to the implantation of smaller and longer-life
defibrillators for the treatment of tachyarrhythmias.
