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Summary In late 1994 five medical device companies namely Advanced Cardiovascular Systems Inc Devices for Vascular Intervention Inc Cardiac Rhythm management Business Heart Rhythm Technologies Inc and Origin Medsystems Inc has been combined to form Guidant Corporation Formerly a part of Eli Lilly and Company these companies as a group were split off by Lilly to capitalize on common customers markets and competencies in three areas Vascular Intervention Cardiac Rhythm Management and Minimally Invasive Systems Cardisc Rhythm Management Business CRMB part of Guidants cardiac management group developed manufactured and marketed two major product lines implantable cardioverter defibrillator Tachy systems and pacemaker Brady systems The Tachy system were small device placed under the skin and connected to leads inserted through a major vein directly into the heart When the device detected an unusually fast heart rate it would give an electrical jolt to the heart The Tachy market grown 22 per year and was to expect to grow to over 1 billion in 1999 Therapy advances particular in size ease of use and battery life were important to hospitals doctors and patients Further the ability to pace both chambers of the heart was of substantial clinical value to patients with severely diseased hearts Product life cycles continued to shorten and new product development was key to business success The Brady system was a more mature technology than ICDs and all major manufacturers were producing units of acceptable quality Therefore service price and ease-of-use were primary market drivers in the Brady segment Because the pacemaker market was larger more established and technology more stable there were more competitors in that field CRNB had made advances in its Brady product line but in 1997 CRMB held only the fourth market share position If they did not continue to innovate and create leading products others would quickly take over the market Once a product was developed and ready for manufacturing clinical trials were conducted and results were submitted
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