St. Jude Medical Statement on Muddy Waters October 19, 2016 Claims

October 19, 2016

St. Jude Medical, Inc. (NYSE:STJ), a global medical device company, today issued the following statement:

Muddy Waters and MedSec have once again made public unverified videos that purport to raise safety issues about the cybersecurity of St. Jude Medical devices. This behavior continues to circumvent all forms of responsible disclosure related to cybersecurity and patient safety and continues to demonstrate total disregard for patients, physicians and the regulatory agencies who govern this industry.

We take this matter very seriously and will once again work to quickly evaluate this new information.

St. Jude Medical stands behind the security and safety of our devices.

For years, we have been proactively working to identify, understand and address potential cybersecurity vulnerabilities – a commitment that is institutionalized within our company. We seek input and collaborate with regulators, medical experts, leading independent researchers and cybersecurity experts to continuously strengthen our devices and systems. We regularly upgrade and enhance our products and our entire ecosystem to help ensure we are balancing the need to keep ahead of technological threats with the impact on patient care.

We recognize decisions related to the dynamic cyber security landscape and patient management considerations are complex. As further demonstration of our ongoing commitment to medical device security, we are forming a Cyber Security Medical Advisory Board of leading physicians to help ensure that St. Jude Medical’s cyber security protections continue to be innovative without jeopardizing patient care. For example, for Merlin@home alone, we have made seven security related updates over the last three years.

Patients, physicians, and caregivers deserve better than the irresponsible release of information that is intended for financial gain and is unnecessarily frightening.

We have worked, and will continue to work, together with responsible researchers to understand and assess any claims and identify any potential vulnerabilities in our devices.

Media Contact:
Candace Steele Flippin


Investor Contact:
J.C. Weigelt