2014 Investor Day Conference

St. Jude Medical 2014
Investor Conference
February 7, 2014

22
Welcome and Opening Remarks
Dan Starks, Chairman, President and CEO

33
This presentation 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 29, 2012 and
Quarterly Report on Form 10-Q for the fiscal quarter ended September 28,
2013. The Company does not intend to update these statements and
undertakes no duty to any person to provide any such update under any
circumstance.
Forward-Looking Statements

44
Agenda
8:00 a.m. Overview of St. Jude Medical’s 2014 growth program.
 Dan Starks, Chairman, President and Chief Executive Officer
EPS leverage in 2014 and beyond.
 Don Zurbay, Vice President, Finance and Chief Financial Officer
Highlights of our CRM business.
 Eric Fain, M.D., Group President
The CardioMEMS™ HF System can become a significant new growth driver.
 Lisa Andrade, Vice President and Chief Marketing Officer
Panel for Q&A
10:00 a.m. Break
Power of the EP portfolio.
Eric Fain, M.D., Group President
A special focus on Endosense.
 Srijoy Mahapatra, M.D., FHRS, Vice President, Clinical, Medical and Scientific Affairs
Executing on a robust CV portfolio.
A deeper dive into Portico™ transcatheter aortic valve.
Phil Ebeling, Senior Vice President, Research and Development
Growth through innovation in neuromodulation.
Panel for Q&A
Lunch Buffet
12:30 p.m. Meeting Ends

55
Overview of St. Jude Medical’s
2014 Growth Program

66
We accomplished our major growth goals in 2013.
 On a constant currency basis, we delivered adjusted EPS
growth of 12% on 2% growth in revenue.*
 We accelerated our sales growth rate each quarter starting
the year with a 3% decline in Q-1 and ending the year with
a 6% increase in Q-4.
* All sales growth values in this presentation are expressed on a constant
currency, year-over-year basis.

77
Sales growth improvement was broad based due to
encouraging market dynamics and new products
launched in every business.
1H 2013 2H 2013
High voltage (2%) 4%
Low voltage (8%) 1%
Vascular 1% 3%
Structural Heart 2% 8%
Neuro (1%) 2%
AF 10% 9%
Total (1%) 4%

88
We view ourselves as a company that entered 2014
with sales growing at an annual rate of
approximately 4%.
 This is consistent with the guidance we gave on our Q-4
earnings call that sales would increase approximately 3-
5% in 2014.
 It usually is more meaningful to consider sales rates based
on at least two quarter’s results (4% increase 2H 2013)
instead of on a single quarter’s results (6% increase Q-4
2013).

99
Looking forward to our sales growth in 2014

1010
St. Jude Medical’s growth program is based on
innovation. We provide innovative medical
devices that help reduce the cost of health care
and improve patient outcomes for some of our
most expensive, epidemic diseases.
 Heart rhythm disorders
 Atrial fibrillation
 Heart failure
 Hypertension
 Chronic pain
 Stroke
 Coronary artery disease
 Structural heart defects

1111
We estimate that the markets we participate in
exceed $20 billion in size and are growing at an
average rate of approximately 4%. Potential
markets (CardioMEMS™ HF System, renal
denervation) provide upside.
Size
Market $ billions Growth %
CRM 10.8 - 0 -
Structural Heart 3.1 9%
AF 2.9 9%
Vascular 1.8 6%
Neuro 2.0 5%
20.6

1212
We expect our growth rate to benefit from a
tailwind as our sales mix shifts to products in
faster growing markets.
Legacy markets Growth driver markets
CRM* AF
Mechanical heart valves Tissue and TAVR heart valves
Vascular closure Fractional flow reserve (FFR)
Third party Japan Optical coherence tomography (OCT)
Chronic Pain
CardioMEMS™ HF System
Left atrial appendage closure (LAA)
Deep brain stimulation
Renal denervation
* Revenue from CRM products was 59% of our sales mix in 2010 compared
with 51% in 2013.

1313
We have the right products in the right markets to
accelerate our sales growth over time.
 We have plenty of opportunity.
 Our primary focus therefore is execution.

1414
The organizational and leadership changes we have
made since Q-4 2012 are helping us improve our
execution.
 Our customers are changing. We are changing with them.
 It no longer makes sense to organize by physician
specialty in a decentralized structure.
 Our transition to a centralized structure helps us leverage
our scale, align our priorities, capture technology
synergies, improve our quality, and strengthen our focus
on the new customer profile that is emerging as a result of
health care reform and structural changes to the health
care market.

1515
Our execution is focused on accomplishing all of the
following goals in 2014.
 Meet or exceed the guidance we gave on our Q-4
earnings call.
 Accelerate our sales growth rate during the year.
 Exit 2014 capable of delivering both EPS leverage and
mid to high single digit sales growth in 2015.*
* We are not yet issuing guidance for 2015.

1616
Key execution milestones for 2014

1717
We expect to resolve our Sylmar FDA warning
letter and improve our flow of new product
launches in the U.S. for our CRM business.
 Allure Quadra™ CRT-P and our next generation low
voltage platform of devices (Endurity™ and Assurity™
pacemakers) have been launched in Europe in 2013 and
are approvable in the U.S. pending resolution of the
warning letter.

1818
We expect to resolve our Plano FDA warning
letter and accelerate neuromodulation sales
growth with new products.
 Prodigy™ spinal cord stimulation (SCS) with SJM Burst
technology in Europe.
 Protégé™ spinal cord stimulation (SCS) platform in the
U.S.
 Submit our PMA for deep brain stimulation (DBS) for
Parkinson’s disease and Essential Tremor indications in
the U.S.

1919
We expect to accelerate sales growth in our AF
franchise.
 The primary catalyst will be a successful ramp-up and
launch of our TactiCath™ line of contact force sensing
ablation catheters (our Endosense acquisition). Impact
should be visible 2H 2014 as manufacturing ramp-up is
completed.
 A secondary catalyst will be the expanded roll out of our
MediGuide™ technology together with the effect this has
on adoption of our complete AF and CRM bundles.

2020
We expect our Nanostim™ retrievable leadless
pacemaker product line launch to begin
impacting sales growth 2H 2014.
 Manufacturing ramp-up is underway and should be
completed by mid 2014.
 Early KOL feedback encourages us that the Nanostim™
leadless pacemaker platform can evolve into a significant
new growth driver.
 This is a disruptive technology.

2121
Our Portico TAVR program is expected to
contribute higher sales each quarter of 2014.
 Our 23mm Portico™ heart valve with a transfemoral (TF)
delivery system was on the market in Europe in 2013 but
addressed less than 10% of the market.
 We received CE mark for our 25mm Portico™ heart valve
with a TF delivery system in December 2013. Launch in
Europe already is underway.
 We expect to launch our 27mm and 29mm Portico™
heart valve products with TF delivery systems in Europe
during 2H 2014.

2222
We are enthusiastic about the significant impact the
CardioMEMS™ wireless heart failure (HF) sensor
can provide to Class III HF patients.
 CHAMPION trial
1. 28% reduction in hospital readmissions at 6 months.
2. 37% reduction in heart failure hospital readmissions
at 17 months.
 This technology has the potential to provide
significant clinical and economic benefits for patients
who suffer from Class III heart failure and become a
major new growth driver.
* CardioMEMS is an independent, privately held company in which STJ holds an
equity interest and an exclusive option to acquire the company.

2323
We expect new products and expanded programs
throughout our business to help maintain or
improve our sales growth rate in 2014.
 Continued role out of the dorsal root ganglion stimulation
(DRG) technology for chronic pain.
 Expansion of our FFR, OCT, and LAA closure programs.
 We remain optimistic about renal denervation as a
potential new growth driver. We look forward to
reviewing the SYMPLICITY HTN-3 clinical trial results
and incorporating lessons learned into our renal
denervation program.

24
Summary of our sales growth expectations.
 We entered 2014 with sales growing at an annual rate of
approximately 4%.
 Our sales growth rate should improve as our product mix
continues to shift to faster growing markets.
 We expect to launch multiple new growth drivers in 2014,
including CRM products in the U.S., Nanostim™ leadless
pacemaker, TactiCath™ ablation catheter, CardioMEMS™ HF
system, 25mm-29mm sizes of Portico™ heart valve, Prodigy™
SCS with Burst, Protégé™ SCS with upgradeability, and more.
 Our goal is to accelerate our sales growth rate during the year
and exit 2014 capable of delivering mid to high single digit
sales growth in 2015.

EPS leverage in 2014 and beyond
Don Zurbay, Vice President and Chief Financial Officer

2727
We are well positioned to continue delivering
EPS leverage in 2014 and beyond.
 Our 2014 guidance calls for sales growth of 3 – 5% and
EPS growth of 6 – 8%.
 We are continuing to expand manufacturing in cost
advantaged locations.
 We see significant opportunity to continue taking costs
out of our business with our on-going restructuring
programs.
 We expect economies of scale to evolve for each of our
new growth drivers.

28
We are well positioned to maintain or improve our
gross margin beyond 2014.
 Our gross margin is impacted by both positive and
negative factors.
 Excise taxes provide a 50 basis point headwind to our
gross profit margin in 2014.
 Additionally, we are negatively impacted by geographic
and product mix shifts and lower average selling prices.
 We expect to offset the negative factors through
continued expansion of our manufacturing in cost
advantaged locations and other continuous improvement
initiatives.
 The negative gross margin impact of our growth drivers
will improve as volumes increase and manufacturing
improvements are realized.

2929
Opportunities to leverage our global operations and
supply chain
 Centralization of our world-wide manufacturing
organization will further enable us to optimize our $1.6
billion in global operations spending.
 We are currently manufacturing approximately 60% of our
worldwide volume in cost advantaged locations with an
internal goal of reaching 80%.
 Our cost advantaged facilities are at varying stages of
utilization and we have ample capacity to support our
revenue growth over the next five years.

3030
Optimization of our cost structure
 From 2011 to 2013, S,G&A expenses have been reduced
by approximately 170 basis points as a percentage of
sales in a low sales growth environment.
 Acceleration of sales growth provides a natural leverage
point to the fixed component of our cost structure
 Our current organization has ample capacity to support our
increased sales.
 Growth drivers require investment similar to a start up
company and our ratios will improve as we start to
generate meaningful sales.
 Moving forward the negative impact of variable interest
entity accounting will ease.

3131
Optimization of our cost structure
 We estimate that we have already generated over $100
million in incremental cost savings as a result of the
restructuring actions announced in 2012 .
 We expect additional leverage and productivity
improvements in 2014 and beyond as a result of these
actions as well as the changes announced last week.
 The optimization of our cost structure allows us to remain
committed to our innovation-based growth strategy with
our investment in R&D consistently being greater than
12% of sales.

32
OUS Manufacturing's effect on the Tax Rate
 The largest driver of our tax rate improvement is
expansion of manufacturing in cost advantaged
locations.
24.5%
22.0%
21.6%
20.9%
18.5%
16.0%
18.0%
20.0%
22.0%
24.0%
26.0%
2010 2011 2012 2013 2014
2010 2011 2012 2013 2014
24.5% 22.0% 21.6% 20.9% 18.5%

3333
We maintain a conservative balance sheet which
continues to benefit from strong and consistent cash
flow.
 Balances as of December 31, 2013:
 Cash on hand $1.4 billion
 Debt outstanding $3.6 billion
Current credit ratings: Moody’s – Baa1, S&P – A, Fitch – A
 For the three years ended 2013, we have generated cash flow from
operations of approximately $3.6 billion, 22% of net sales.
 We have ample capacity to continue returning capital to shareholders
while maintaining the capacity to augment our growth strategy with
disciplined acquisitions.

3434
Dividends and Share Repurchases
 Since 2011, the Company has completed $2.8 billion of share
repurchases with an average purchase price of $43.47 per
share.
 Share repurchases will manage the dilutive impact of our stock
based compensation.
 In February of 2011, the Company initiated a dividend and we
have increased our dividend an average of 9% annually.
 The share repurchases and growth in dividend reflects the
strong confidence our management team and our board of
directors have in our long-term growth and success.

3535
Summary
 Our goal is to continue growing sales at a 3% to 5% rate
for full year 2014 and create the conditions to support
faster sales growth in 2015.
 We expect to continue delivering EPS leverage in 2014
and beyond.
 We have a conservative balance sheet and strong cash
flow to continue to repurchase stock, increase our
dividend, and fund disciplined acquisitions as appropriate.

Highlights of our CRM business
Eric S. Fain, M.D. – Group President

38
2013 CRM Highlights
 Core CRM markets stabilizing and showing signs of growth
 Acceleration of implant growth rates WW throughout the year
 Stabilizing ASP trends
 Accelerated our sales growth each quarter:
 Exited year with share capture in both LV and HV
 Market Share leader in U.S. De Novo CRT-D
 Third party analysis of STJ data as well as independent large hospital
system experience confirmed the strong performance of Durata™ lead
 Over 425,000 leads implanted WW and >6 years of follow-up
 De Novo lead-to-port ratio returned to parity with device sales
 Expanded our Industry leading product portfolio
 Launched new ICD (WW) and pacemaker (Int’l) platforms
 Extended our quadripolar leadership with MPP and CRT-P (Int’l)
 Significant progress in remediation of Sylmar warning letter
 We anticipate FDA re-inspection by the end of 1H 2014

39
Implantable Electronic Systems:
Leveraging Operational Synergies in 2013
 Capitalized on the combined strength of our organization and
rapidly achieved functional integration:
 Reduced costs and improved effectiveness by leveraging a single
integrated R&D organization and associated core competencies
 Began implementing operational synergies that enhance quality and
improve cost structure while also leveraging our existing cost advantaged
manufacturing locations
 Leveraged integrated clinical study and field clinical engineering
organizations to improve execution and timelines
 Additional opportunities in the future as we move to common
electronics and externals platforms

40
2014 WW CRM Market Dynamics
 Expect the 2013 global CRM market to be flat versus
2012 on a CC basis
 Renewed unit growth but continued ASP pressure
 2H 2013 likely up about 2% vs. 2H 2012 on a CC basis
 The mid-point of our guidance range assumes the CRM
market is flat in 2014 vs. 2013 (on an “as reported” basis)
 Our model assumes a CRM market of $10.8 billion in 2014
 We expect to gain 50 bps of CRM share in 2014:
 Differentiated product portfolio
 HV replacement tailwind

41
17%
19%
21%
23%
25%
27%
29%
31%
33%
2010 2011 2012 2013 2014 2015 2016 2017 2018
EstimatedMarketShare
2013 Year End De Novo Share (Est.) Year End Replacement Share (Est.)
Linear Trend to Current De Novo Share 2012 Year End De Novo Share (Est.)
Replacement Share
Share Delta of ~6.5%
Est. +2.0% in 2013
2012 De Novo Share
2013 De Novo Share
U.S. HV Replacement Market Dynamics
Our replacements tailwind will continue to support market share capture

4343
Continued Innovation across Product Portfolios
Right Products at the Right Time
SJM Quadra family of
devices with
MultiPoint™ Pacing
Nanostim™
Leadless
Pacemaker
CardioMEMS™ HF
System
Allure Quadra™
CRT-P

4444
Quadripolar Pacing – Standard of Care in CRT
Strong clinical evidence driving continued CRT-D share gains
 U.S. De Novo market share leader
in CRT-D
 Will remain the only quadripolar
system available in U.S. in 2014
 Only next generation MPP system
in International markets
 Over 100 publications provide broad
clinical evidence supporting the
benefits of the quadripolar system at
implant and follow-up
 Clinical benefits also translate into
healthcare economic benefits
Estimated U.S. CRT-D De Novo Market Share
27%
29%
31%
33%
35%
37%
39%
41%
2011 2012 2013

45
Distal 1
Mid 3
Proximal 4
Mid 2
Common Pacing Complications with Bipolar CRT
Addressed with Quadripolar System
Four electrodes and
10 pacing vectors
Allows implant without trading off
stability for electrical performance

46
Quadripolar benefits can lower both the near-term
and long-term overall cost of care
Positive impact to hospitals, ACOs, bundled payment sites and payers
More pacing options to manage
implant complications
100% Resolution of Phrenic Nerve Stimulation
without surgical lead revision (SLR)1
Significant reduction in surgical
lead revisions when compared to
bipolar leads2
Better device longevity3
Patients with high LV thresholds
could see significant longevity
improvement of up to 17 months
using unique quadripolar vectors
Proven efficacy on
both objective and subjective
measures of HF improvement4
LV volumes, EF and
6-minute walking distance /
MN Quality of Life score4
Overall, 66% of patients improved
at least 1 class on NYHA scale
Lowered rate of LV lead
deactivation/ replacement5
53% of patients programmed to a unique
quadripolar vector to avoid pacing complication and
possible surgical lead replacement
pic
1. Zanon et al. Heart Rhythm, Vol. 10, No 5, May 2013. New Onset of Phrenic Nerve Stimulation During Left Ventricular Pacing at Mid-Term Follow Up: A Multicenter Clinical Experience.
2. Viani SM, et al. A new quadripolar lead for left ventricular pacing: short term reliability and future opportunities. Europace. 2011; 13(3), Abstract P408
3. Manyam et al. Heart Rhythm, Vol. 10, No 5, May 2013. Quadripolar Left Ventricular Leads Yield Lower Capture Thresholds With Expected Increase In Battery Longevity.
4. Forleo GB, et al. Heart Rhythm 2012; 9 (11), 1822-1828.e3
5. Turakhia et al. Heart Rhythm, Vol.10, No 5, May 2013. Decreased Risk of Left Ventricular Lead Deactivation and Replacement Associated With Quadripolar LV Leads.

47
1. Tomassoni, G. et al. Post operative performance of a novel left ventricular quadripolar electrode lead. Heart Rhythm. 2011;8(5):S119 (Abs. PO1-43).
2. Thibault B, et al. Electrode Selection to Avoid Phrenic Stimulation with a Quadripolar Left Heart Lead. Heart Rhythm. 2011;8(5):S68 (Abs. AB30-3).
3. Dänschel W, et al. Initial Clinical Experience with a Novel Left Ventricular Quadripolar Lead. Oral Session 183/5. Europace, 2010; 12 (suppl 1): i127.
4. Osca J, et al. Initial Experience with a New Quadripolar Cable for Left Ventricular Stimulation. Impact Over Phrenic Nerve Stimulation and Pacing Thresholds. Heart Rhythm. 2011;8(5):S359 (Abs. Po5-14).
5. Mehta PA, Shetty AK, Squirrel M, et al. Elimination of phrenic nerve stimulation occurring during CRT : Follow-up in patients implanted with a novel quadripolar pacing lead. J Interv Card Electrophysiol 2011 Jul 21.
6. Viani SM, et al. A New Quadripolar Lead For Left Ventricular Pacing: Short Term Reliability and Future Opportunities. Europace 2011 (Abstract).
Clinical results show consistently strong performance
Reduction in RevisionsPNS Resolution
Tomassoni1 Thibault2 Danschel3 Osca4 Mehta5
6

48
Clinical Superiority of Quadripolar Technology
 NCDR ICD Registry is a national, prospective database managed by the ACC
in collaboration with HRS
 Updated analysis used NCDR ICD Registry data for implants performed from
January 1, 2012 through June 30, 2013
 STJ quadripolar CRT Technology demonstrated an 89% reduction of failed
implants over non-quadripolar LV leads from all manufacturers
 Additional publications expected in 2015 highlighting improved outcomes and
mortality
Non-Quad STJ Quadra P-value
1H 2012 4.20% 0. 51% <0.0001
2H 2012 4.53% 0.49% < 0.0001
1H 2013 4.20% 0.49% < 0.0001
Total (N=56,656) 4.30% 0.49% < 0.0001
NCDR ICD Registry Failed LV Lead Implants*
* Reasons LV leads were not implanted include diaphragmatic stimulation, unacceptable
thresholds, and target vein/coronary sinus access

49
Quadra Assura™ CRT-D MultiPoint™ Pacing (MPP):
Building clinical evidence with 2nd generation technology
 Two-site LV stimulation extends the capabilities of Quadripolar
technology platform with a focus on further improved patient outcomes
 Studies demonstrate significant improvement
compared to conventional biventricular pacing
 Improved acute hemodynamics with an MPP
configuration in large majority of patients1-4
 Equivalent improvement seen in both ischemic
and non-ischemic patients3,4
 No difference between quadripolar lead and
multi-branch (2 leads)5
 Reduced rate of CRT non-responders
 26% more CRT responders (ESV >15% reduction)
after 3-month of MPP6
 IDE enrollments expected to complete in 2014
1. Rinaldi et al. Acute hemodynamic benefits of multisite LV pacing in CRT recipients. Abstract ACC 2012
2. Thibault et al. Acute hemodynamic comparison of multisite and biventricular pacing with a quadripolar LV lead. Europace 2013 ;15:984-991
3. Pappone et al. Multipoint LV pacing improves acute hemodynamic response assessed with pressure-volume loops in CRT patients. Heart Rhythm 2014 (in press)
4. Rinaldi et al. Acute effects of multisite LV pacing on mechanical dyssynchrony in patients receiving CRT. J Cardiac Failure 2013;19:731-738
5. Shetty et al. A comparison of LV endocardial, multisite and multipolar epicardial cardiac resynchronization: An acute hemodynamic and electro-anatomical study. Europace 2014 (in press)
6. Pappone et al. Multipoint LV pacing in a single coronary sinus branch Improves 3-month echocardiographic and clinical response to CRT. Abstract HFSA 2013

5050
Allure Quadra™ CRT-P
 Strong demand and driving share capture
in Int’l markets
 Significant competitive advantage in an
estimated $420M WW CRT-P market
 Expands quadripolar portfolio to fastest
growing CRM segment
 Market size expected to double in the next
5 years with new indications
 No known competitive quadripolar
pacemakers in pipeline
 Capitalize on rapid growth in the CRT-P
segment driven by BLOCK HF results
(AHA 2012) and BIOPACE (2H 2014)
 Significant appeal to pacer implanters
who begin implanting CRT-P
 Leverages new LV platform for improved
cost structure
$200
$250
$300
$350
$400
$450
2011 2012 2013 2014
$MM
Estimated CRT-P Market Revenue
WW Market Size
11% CAGR

51
 Expanding portfolio of quadripolar lead
options
 3 lead shape options
 2 electrode spacing options to
facilitate basal pacing
 All spacing options maintain 4
discrete electrode locations for pacing
vector selection
 Smaller diameter for easier access to
tortuous anatomy
 Designed for MRI compatibility
Quartet™ NXT LV Leads
Extending Quadripolar Leadership with 2nd generation technology

52
Leadership in Low Voltage Platform in 2014
Assurity™ and
Endurity™ Allure Quadra™ Accent MRI™
Nanostim™
Significant technology advantages to drive share
gains in ~$4B low voltage market

5353
Brady MRI Compatibility
 Industry best lead handling
 No scan zone/power restrictions
 Efficient workflow using the STJ MRI
activator
 Continued success in Int’l markets
 Strong adoption following launch in Japan
 Accent MRI IDE Study: Expect to complete
MRI scans and follow-up in 2H 2014
 Will continue to expand product portfolio of
MRI compatible devices
 Expect to launch restricted MRI models in
Int’l markets in 2014 for tiering

5454
Nanostim™ Leadless Pacemaker
 Specifically designed for repositioning and chronic
retrievability (catheter-based)
 Energy efficient design
 High-capacity battery
 No losses due to lead conductor resistance
 Proprietary low-power “conducted communication”
 Designed to prevent dislodgement
 Double fixation: single turn helix (x 2 pull-strength)
plus angled nylon sutures
 Radiographic indicator to ensure proper number of turns
 Tethered test mode for intraoperative evaluation
 Delivered via 18F introducer
 Supported by Merlin™ Patient Care System
First and only commercially available leadless pacing system

5555
Standard Pacemaker Leadless Pacemaker
Implant procedure Surgical pocket + lead Percutaneous femoral based
Implant time 30 – 45 minutes 15-20 minutes
Cosmetics Scar, Visible Device No Scar, No Visible Device
Post-Implant Restrictions Limited arm movements
Wound care/ sutures
No heavy lifting
Minimal
(faster patient recovery)
Connections Lead-can connectors None
Chronic tricuspid valve
interference
Yes (lead) No (leadless)
Longevity 9-13 years 9-19 years
Battery Replacement Pocket access Femoral access
MRI compatibility Conditional – image impact Inherently MRI compatible
Comparison with Conventional Lead-Based System

5656
Complication Occurrence Leadless Advantage
Lead dislodgement 2.2% to 3.7% Not applicable/ No lead
Low risk of device dislodgement
Pneumothorax 1.6% to 2.6% No Risk - Not applicable
Lead perforation 0.5%-1% Not applicable – No Lead
Low risk of device perforation
Venous thrombosis 1%-3% No Risk – Not applicable
Chronic Lead failure 2%-4% of pts at 5 years Not applicable – No Lead
Hematoma requiring surgical
evacuation
<0.5% Reduced Risk
Skin erosion (generator
change)
0.8-0.9% No Risk – No Pocket
Pocket Infection • < 1% for single-
chamber
• 3-5% for generator
change
No Risk – No Pocket
Complications Associated with Pacemakers

57
Launch Summary
 Initial launch feedback and enthusiasm in EU
has been even greater than anticipated
 Strong success with initial implants driving
continued demand
 Strong interest from historically non-STJ
customers
 Unprecedented interest in U.S. IDE study
 Strong interest in Japan/Asia due to lack of
scar/visible device
 Significant media attention and coverage
driving patient awareness
 Significant market opportunity in ~$700M
single-chamber pacemaker segment

58
Clinical Summary
LEADLESS Study: First in Man
 Successful delivery in 32/33 patients (97%)
 Short Procedure Times
 Introducer in/out: 28 minutes
 Catheter in/out: 16 minutes
 Excellent pacing and sensing performance
LEADLESS II IDE Study
 PMA Submission requirement: 300 patients followed
for 6 months
 First implants Feb 2014
Leadless Pacemaker Observational Study (International)
 1000 patients at ~100 sites followed for 5 years
 Enrollment underway

5959
Nanostim™ Dual Chamber Leadless Pacemaker
 Dual chamber pacemakers represent >70%
of worldwide pacing market
 Approximately $3B market in 2014
 Development work underway to expand
Nanostim technology
 Single chamber development helps validate delivery
and dual chamber feasibility
 Low power conducted telemetry scheme can be
leveraged for device-to-device communication
resulting in low impact to device longevity
 Communication between devices demonstrated in
animal studies

60
Summary of CRM Highlights for 2014
 The global CRM market has stabilized
 We expect to gain share in the high voltage segment due
to replacement market dynamics and leadership in
quadripolar CRT-D
 The Nanostim™ leadless pacemaker and our Allure
Quadra™ CRT-P product lines give us clear leadership in
a $1 billion component of the low voltage segment
 The midpoint of guidance that assumes we will gain
approximately 50 basis points of share in a stable market
is well supported and may be conservative
 We have completed all remediation activities associated
with the Sylmar site Form 483 and warning letter and we
anticipate FDA re-inspection by the end of 1H 2014

The CardioMEMS™ HF System
can become a significant new
growth driver
Lisa Andrade – Vice President and Chief Marketing Officer
* CardioMEMS is an independent, privately held company in which STJ holds
an equity interest and an exclusive option to acquire the company.

63
CardioMEMS™ HF System
 Sensor with Delivery Catheter System
 Permanent implant
 No batteries or components that
require replacement
 Implanted into pulmonary artery
 Uses a safe, well-understood right heart
catheterization procedure
 Electronics
 Patient configuration
 Hospital/clinic version
 Website
 PA pressure readings and trends
 Systolic, Diastolic and Mean
 PA pressure waveforms
 Heart rate
At-home
In-hospital

64
Heart Failure Burden in the United States1,2
 5.1M Americans suffer from HF
 >650,000 new HF diagnoses each year
 1 in 2 HF patients die in 5 years
 Burden on healthcare system is high
 2.8M office and ED visits each year
 1.0M HF hospitalizations each year
 Leading cause of hospitalizations among >65
years old patients
 Every 30 seconds, someone is hospitalized
for HF
1 Go A, et al. Heart Disease and Stroke Statistics 2013 Update: A Report from the American Heart Association.
Circulation. Published online December 12, 2012.
2 Blecker, S, Paul, M et al. Heart failure-associated hospitalizations in the United States. JACC 2013 61:12 (1259-1267)
Heart Failure is a growing and expensive public health issue
of HF patients
die in 5 years1
50%
5.1M

65
Economic Burden of HF Admissions in the US
 Total cost of HF in the US
expected to double by 20301
 $31B/year in 2013, $70B/year in 2030
 >1/2 of costs spent on hospitalizations2
 5.1 day average hospital length of stay4
 High readmission rates
 25% readmission within 30 days2
 50% readmission within 6 months3
 1/5th of all Medicare admissions in the
US have a diagnosis of heart failure5
 Most HF patients suffer
re-congestion within 60 days
 Even at the best hospitals6
1 Go A, et al. Heart Disease and Stroke Statistics 2013 Update: A Report from the American Heart Association. Circulation. Published online December 12, 2012.
2 2013 ACCF/AHA Guideline for the Management of Heart Failure: A report of the ACC/AHA Task Force on Practice Guidelines. Circulation. Published online June 5, 2013.
3 Focus Update Incorporated into the ACC/AHA 2005 Guidelines for the Diagnosis and Management of Heart Failure in Adults: Circulation 2009;119; e391-e479(e437)
4 National Health Statistics, National Hospital Discharge Survey: 2007 Summary October 26,2010
5 Emory Healthcare. Heart Failure Statistics. Emory Healthcare [serial online]. Published 2013. Accessed April 2, 2013.
6 Lala, et al. for H-FAN. HFSA 2013
7 MEDPAC, Report to Congress: Promoting Greater Efficiency in Medicare, June 2007. Advisory Board Cardiovascular Roundtable Research & Analysis as reported in Publication 20286C entitled
“Transformative Care Delivery, Part II: Reducing Preventable Readmissions.”
$31 Billon
annual Cost of HF in US1
5.1 days
average hospital
length of stay4
$600M
spent annually on
preventable Medicare HF
patient readmissions7

66
New York Heart Association (NYHA) Class III
Leads HF Admissions
NYHA Class III patients have marked limitation in activity even during minimal activity.
They are comfortable only at rest.
1 CVRG, 2007; McCullough, 2002; McAllister, 1999 [41-43}
2 Fonarow G, et al. Overview of Acutely Decompensated Congestive Heart Failure
(ADHF): A Report from the ADHERE Registry. Heart Failure Reviews 9, 179-185,
2004
Approximately 1 in 3 HF Patients are NHYA Class III.
These patients comprise almost half of the HF admissions.
29%
44%
0%
20%
40%
60%
80%
100%
% of HF patients % of HF admissions
NYHA I
NYHA II
NYHA III
NYHA IV
1 2

67
Economic Risks of HF Readmissions in the US
Medicare’s Hospital Readmissions Reduction (HRR) Program
 Program penalizes hospitals who have above average risk adjusted
all-cause readmissions within 30 days following HF, Acute MI,
Pneumonia discharge
 Withholding of all inpatient Medicare payments
 Up to 2% in 2014
 Up to 3% by 2015 and beyond2
 Total 2013 impact3
 $280M withheld
 2,217 hospitals impacted
1 Dharmarajan K, Hsieh AF, Lin Z, et al. Diagnoses and Timing of 30-Day Readmissions After Hospitalization for Heart Failure,
Acute Myocardial Infarction, or Pneumonia. JAMA. 2013;309(4):355-363. Linden A, Adler-Milstein J. Medicare disease
management in policy context. Health Care Finance Rev. 2008;29(3):1-11.
2 CMS Hospitals Readmissions Reductions Program of the Patient Protection and Affordable Care Act (PPACA), 2010.
3 - http://www.kaiserhealthnews.org/stories/2012/october/03/medicare-revises-hospitals-readmissions-
penalties.aspx?referrer=search
2014 CMS Benchmark Target
30-day Readmissions Rate1

6868
CardioMEMS™ HF System and Pressure Monitoring
Weight and
BP
Impedance
Pressure
No Reduction in HF
Hospitalizations
Poor Marker
(TIM-HF, TELE-HF)
No Reduction in HF
Hospitalizations
High false positives
(DOT-HF)
Significant Reduction in HF
Hospitalizations
Right marker, Right management
approach
(COMPASS, CHAMPION,
HOMEOSTASIS™)
CardioMEMS
PA Pressure
The Right Approach to Management of HF

6969
COMPASS
HOMEOSTASIS™
CHAMPION
 Right Parameter – Pressure
 Right Patients – Class III
 Right Approach – Management to target pressures and
physician directed patient self management
 Right Patients – Class III
 Right Approach – Management to target pressures
 Right Patients – Class III showed significant benefit
Wrong Patients – Including Class IV resulted in no benefit
Wrong Approach – Management to pressure spikes
X
X
Multiple Studies have Shown that Pressure Monitoring
is the Right Strategy to Reduce HF Hospitalization

7070
CumulativeNumberofHFRHospitalizations
0
20
40
60
80
100
120
140
160
180
200
220
240
260
Days from Implant
0 90 180 270 360 450 540 630 720 810 900
270 262 244 210 169 131 108 82 29 5 1
280 267 252 215 179 137 105 67 25 10 0
No. at Risk
Treatment
Control
Primary Endpoint
Treatment Control
CHAMPION Trial: Primary Endpoint Met
Cumulative HF Hospitalizations Reduced At 6 Months and Full Duration
Abraham WT, Adamson PB, Bourge, RC et al. Wireless pulmonary artery hemodynamic
monitoring in chronic heart failure: a randomized controlled trial. The Lancet. 2011:377;658-66.
28%
Reduction at 6 months
37%
Reduction at Full
Duration

7171
CHAMPION Trial: Principal Findings
Pulmonary Artery Pressure Monitoring
Medication Changes Based on PA Pressure p<0.0001
<1 medication change per patient per month
Pulmonary Artery Pressure Reduction
p=0.0077
Heart Failure
Hospitalization Reduction
p=0.0002
Quality of Life
Improvement
p=0.0236
*p values for Treatment vs Control Group
Abraham WT, Adamson PB, Bourge, RC et al. Wireless pulmonary artery hemodynamic
monitoring in chronic heart failure: a randomized controlled trial. The Lancet. 2011:377;658-66.

7272
 Nearly half of all HF
admissions are for patients
with preserved Ejection
Fraction1
 Limited treatment options
available
 Currently not candidates for
ICD or CRT therapy
CMS ADHF Admissions1
HF-pEF
HF-rEF
not assessed
43.6%
38.8%
17.6%
1 Kociol et al AHJ 2010
HF Patients with Preserved EF –
An Even Bigger Challenge to Manage

73
HF Management with CardioMEMS™ HF System
Reduced HF Hospitalization in Preserved EF Patients
0%
10%
20%
30%
40%
50%
HFrEF HFpEF
P<0.0001
vs control
P=0.0085
vs control
RelativeRiskReduction
HF Hospitalization Reduction
(6 mos follow-up)
reduced EF (<40%) preserved EF (>40%)
1Kociol et al AHJ 2010
2 Adamson PB et al. CardioMEMS Heart Sensor Allows Monitoring of Pressures to Improve
Outcomes in NYHA Class III Heart Failure Patients (CHAMPION) Trial: Impact of Hemodynamic
Guided Care on Patients with Preserved Ejection Fraction. Additional updated data on file.
 In the US, nearly half of HF
admissions are for patients with
preserved EF1
 HF management guided by the
CardioMEMS HF System reduced
HF hospitalizations in patients with
either preserved or reduced EF2
 The CHAMPION trial is one of the
first successful management
strategies to reduce HF
hospitalization in this patient
population

7474
Intervention Trial
Mean Duration
of
Randomized
Follow-Up
Annualized Reduction
in
HF Hospitalization
Rates
Number Needed to Treat
(NNT) per year to
Prevent 1 HF
Hospitalization
Beta-blocker COPERNICUS 10 months 33% 7
Aldosterone antagonist RALES 24 months 36% 7
Cardiac resynchronization CARE-HF 29 months 52% 7
Beta-blocker MERIT-HF 12 months 29% 15
ACE inhibitor SOLVD 41 months 30% 15
Aldosterone antagonist EMPHASIS-HF 21 months 38% 16
Digoxin DIG 37 months 24% 17
Angiotensin receptor blocker Val-HeFT 23 months 23% 18
Angiotensin receptor blocker CHARM 40 months 27% 19
Pulmonary artery pressure
monitoring at home
CHAMPION 17 months 33% 4
Clinical Significance of CHAMPION Results

75
CardioMEMS™ HF System Reimbursement
 Hospital Inpatient
 Established ICD-9 procedure code for implant (38.26)
 Maps to DRG 264 – average base payment with adjustments of $17,820
 CardioMEMS™ HF System has applied for New Technology DRG Add-On
Payment
 1 of 7 applications CMS will review
 If approved, effective October 1, 2014 for 2-3 years
 If approved, provides up to 50% of cost of device + DRG payment
 Physician
 Implant
 Physician may bill for right heart catheterization + pulmonary angiography
(established codes) + sensor implant (unlisted CPT code)
 For unlisted codes physician uses a comparable procedure
 Remote Monitoring
 Current coding applies (same as CRM) – Monthly

76
CardioMEMS™ HF System Launch Readiness
 The manufacturing capacity and the inventory needed to
launch the CardioMEMS HF system product line in the
U.S. are already in place
 We do not need to add sales representatives to support
this launch
 Market development will take time, but we are ready to
begin launching the CardioMEMS HF system product line
in the U.S. after the product is approved by the FDA

77
CardioMEMS™ HF System Summary
 CardioMEMS HF system is the right product for the right
market at the right time
 We think the CardioMEMS HF system product line can
become a significant new growth driver for St. Jude
Medical

7878
Panel for Question and Answer Session

Power of the EP Portfolio

8080
2014 Estimated Worldwide EP Market Size
Revenue in Millions
EP Ablation
Catheters
$1,000
35%EP Diagnostic
Catheters
$680
23%
Mapping/
Navigation/
Recording
$550
19%
Access
$370
13%
ICE/Other
$300
10%
2014 Market Revenue $2.9B
Market Growth: 9% - 11%

81
Treated
with
Catheter
Ablation
2.2%
2014
~$58 Billion
~12.9M
Symptomatic
AF
~$1.3B market
Treated
with
Catheter
Ablation
1.9%
2013
~$56 Billion
~12.5M
Symptomatic
AF
Estimated WW AF Market Opportunity
AF is the fastest growing market segment within the EP space
Treated Population
~3% CAGR
(Sources: MRG, HRI, Miyasaka – Circ 2006, WHO 2002, US Census Bureau, STJ estimates)
~$4,500/case
19% Growth
Diagnosed Symptomatic
AF Population
~$1.1B market
AF Diagnosed Symptomatic AF Population
AF Population treated w/ Catheter Ablation

8282
Growth in AF Ablation Procedures
-
50,000
100,000
150,000
200,000
250,000
300,000
350,000
2011 2012 2013 est. 2014
210,000
250,000
295,000
350,000
’11 - ’14 CAGR = 19%
WW AF Ablation Procedures Catheter and Surgical

8383
Favorable STJ Dynamics In A Growing Market
 High interest in differentiated STJ technology
 MediGuide™ Technology
 TactiCath™ Quartz Contact Force Ablation Catheter (Endosense)
 Advanced portfolio of ablation solutions
 Building foundational clinical data
 CABANA
 EAST
 STAR VT
 Toccata/Efficas/Toccastar
 Unmet need for optimized workflow and procedural
efficiencies

84
MediGuide™ Technology – Cornerstone of the
Integrated Lab
 Expand STJ presence through
our Integrated Lab offering
 Reducing radiation
 Increasing workflow efficiency
and reducing healthcare costs
 Potential for improving patient
outcomes
 MediGuide Technology
 3D visualization and precise
navigation platform across EP
and CRT procedures
 Enables navigation of devices
on pre-recorded fluoroscopy and
enhances performance of
EnSite™ Contact Force Module

85
The MediGuide™ Technology Platform Continues to Grow
 Increasing adoption as we continue to build synergies with
STJ’s broad portfolio of catheters and tools
 Additional CRT tool options 2H 2014
 Strong clinical evidence demonstrating radiation reduction for
increased patient and laboratory staff safety
 Numerous Single Center and Multi-Center studies published in 2013
 Potential for increased procedural/economic efficiencies and
improved patient outcomes

8686
2014 Advanced Ablation Solutions
St. Jude Medical
Advanced Ablation Solutions
TactiCath™
FlexAbility™
Catheter
EnSite™
Precision™
Ampere™
WorkMate
Claris™
Agilis™

87
 Extensive thought leader
involvement throughout design
and testing to result in best in
class workhorse catheter
 Flex irrigated electrode tip
 Full portfolio of curve shapes,
including asymmetric options
FlexAbility™ Ablation Catheter
 Handle and shaft that performs across the range
of EP procedures, including transeptal and retrograde approaches
 Platform for future MediGuide™ sensors
 CE Mark and FDA approval anticipated 2H 2014

TactiCath™ Quartz Ablation Catheter
 Irrigated ablation catheters
featuring contact force
technology
 Technology acquired in
2013 from the Endosense
acquisition
 Commercially available
today in Europe and other
International markets
 FDA approval with AF
indication anticipated
2H 2014

8989
Ampere™ RF Ablation Generator
 Complete redesign of hardware
and software to improve
workflow and optimize the
integrated lab experience with:
 Intuitive design and adjustable
settings
 High fidelity signals
 New features, including power
control mode and remote control
 CE Mark approved end 2013
and FDA approval anticipated
2H 2014

WorkMate Claris™ Recording System
 Only fully integrated EP system
on the market with stimulation
 Redesigned hardware and
software for exceptional signal
clarity
 Easier, more efficient analysis of patient data, including
Application Control software for protection and compliance
 Enhanced productivity through system integration and data
workflow integration for one, electronic patient record
 First commercial availability in Europe and the US end 2013

9191
EP Summary
 AF is an expensive, epidemic disease
 The potential market for innovative medical devices that
help reduce the cost of care and improve outcomes for
patients who suffer from AF is only 2% penetrated
 We expect revenue from our AF business to continue to
grow at a high single digit or low double digit rate in 2014
driven by our product innovation

A special focus on Endosense
Srijoy Mahapatra, M.D., FHRS - VP, Clinical, Medical & Scientific Affairs

9494
2014 Estimated Worldwide EP Market Size
Revenue in Millions
*Estimated current market share
2014 Market Revenue $2.9B
Market Growth: 9% - 11%
EP Ablation
Catheters
$1,000
35%
EP
Diagnostic
Catheters
$680
23%
Mapping/
Navigation/
Recording
$550
19%
Access
$370
13%
ICE/Other
$300
10%
STJ
14%*

95
Solution II: Flex Tip with best in
class maneuverability
Solution I: Leading the way with
Contact Force
2014: A New Era for STJ Ablation Catheters
TactiCath™ Quartz Ablation Catheter
Commercial in International Markets
FDA Approval Anticipated 2H 2014
CE Mark Anticipated 2H 2014
FDA approval Anticipated 2H 2014

9696
TactiCath™ Quartz Contact Force Ablation Catheter
Background (Force Sensing)
 Pioneering solution to give physicians a real-time,
objective measure of the force they apply to the heart wall
during a catheter ablation procedure
 CE Mark approved for AF and supra ventricular tachycardia (SVT)
ablation
 U.S. IDE clinical trial complete; anticipating FDA approval with an
AF indication in 2H 2014

97
Why Contact Force?
Safely create durable transmural lesions
Time. Power. Force.

98
Established Clinical Value for
TactiCath™ Contact Force Ablation Catheters
TOCCATA
• Safety and feasibility of Force Sensing
EFFICAS I
• Contact Force parameters on minimum values and
Force Time Integral
EFFICAS II
• Significantly better outcome using Contact Force
TOCCASTAR
• IDE clinical data

99
 Optimal Force leads to reduced recurrence of AF
TactiCath™ Ablation Catheter Guidelines for Force
Sensing
1. Reddy et al.; The relationship between contact force and clinical outcome during radiofrequency catheter ablation of atrial
fibrillation in the TOCCATA study. Heart Rhythm, 2012 Nov;9(11):1789-95.
2. Neuzil et al. Electrical reconnection after pulmonary vein isolation is contingent on contact force during initial treatment: results
from the EFFICAS I study. Circ Arrhythm Electrophysiology. 2013 Apr;6(2):327-33.

100
TactiCath™ Ablation Catheter Clinical Findings
Reddy et al.; The relationship between contact force and clinical outcome during
radiofrequency catheter ablation of atrial fibrillation in the TOCCATA study. Heart
Rhythm, 2012 Nov;9(11):1789-95.
0
20
40
60
80
100
0-10 g 10-20 g 20+ g
100% 53% 80%
47%
20%
No successSuccess
100%
80%
60%
40%
20%
0%
Using Force less than 10g leads to AF recurrence;
Greater than 20g for each lesion is good target

101
TOCCASTAR Study
Study Design
 Prospective, multicenter (EU & US), IDE study
 Randomized TactiCath™ Ablation Catheter vs. Biosense
Webster ThermoCool™; non-inferiority comparison
 Safety and effectiveness study, 12 months follow-up
post PVI
 317 patients with paroxysmal AF
 Expect results to be presented at HRS; intend to publish
findings in a leading medical journal
 Trial completed, PMA submitted
 Anticipate FDA approval 2H 2014 (AF indication)

102102
TactiCath™ Quartz Ablation Catheter Advantages
TactiCath ablation catheter's proprietary optical sensor
technology leads to potential clinical advantages over other
sensing alternatives
Technical Feature Potential Clinical Advantage
Fiber optic sensing Force measured closer to tip
Force measured where power applied
50Hz sampling rate (vs. 20Hz) Higher rates allow visualization of transient
peaks with cardiac movement and increase
the feeling of real-time feedback
No calibration required Saves time and shortens procedure
Other sensor needs recalibration as often
as every 15 min due to temperature
changes

103103
Integration Update
 Functional transitions completed in Q4 2013
 Development, manufacturing, and quality functions have
been integrated into St. Jude Medical
 European sales teams are fully commercial
 FDA PMA Submission Complete
 Submitted Continued Access Protocol
 Expect CAP cases 1H 2014
 Anticipated FDA approval 2H 2014 (AF indication)

104
Part II: New Era for STJ Ablation Catheters
Solution: Flex Tip with best in class
maneuverability and signal quality
CE Mark and FDA approval anticipated
2H 2014
 Internal STJ Development Project
 Elite KOLs supporting efforts with
pre-clinical evaluations to ensure
steady stream of feedback
throughout the process
 Share gaining opportunity with
workhorse device that is
complementary with TactiCath™
ablation catheter with premium
contact force technology

105
 Flex Tip is a critical element
incorporated into design
 International Markets have the first
generation Flex Tip available; it is
the best selling STJ ablation
catheter in both Europe and Japan
 To achieve best in class maneuverability,
we launched a collaborative effort between
clinical, R&D, and external physicians
 Features targeted for optimized performance include:
durability, signal quality, handling, and lesion quality
 22 EP’s have validated multiple design iterations over the
past 6-months via pre-clinical effort

106106
Ablation Catheter Summary
 One of the most significant new growth drivers in our AF
business for 2014 will be the launch of our TactiCath
contact force sensing line of ablation catheters
 Physician feedback leads us to believe that contact force
sensing catheters may help improve the safety and
efficacy of AF ablation procedures
 During 2014, we expect to launch both TactiCath™ and
FlexAbility™ lines of ablation catheters and gain share in
the $1 billion ablation catheter segment of the EP market

Executing on a robust CV portfolio

109109
STJ PCI Optimization™ Leadership in 2013
 We are the WW leader in the fast-growing market of FFR-guided
interventions for coronary artery disease
 The global market for FFR products exceeded $250 million in 2013 with
strong double digit growth
 We believe we will take share and continue to grow the FFR market in 2014
 We are driving OCT market expansion
 We grew our OCT disposables revenue double digit as customers switched
from IVUS to OCT
 We are advancing the field of imaging with even higher resolution, new stent
planning tools and 3D reconstruction
 We are the leader in clinical evidence development for FFR and OCT
 FAME I, FAME II, FAME III, ILUMIEN I

110
FFR & OCT Markets Underpenetrated & Growing
0%
5%
10%
15%
20%
25%
30%
35%
40%
FFR OCT IVUS
 Revenue growth driven
by STJ technologies:
FFR & OCT
 Growth in OCT at the
expense of IVUS
 Even at today’s low
penetration rates, the
current combined market
for IVUS, FFR and OCT
is ~$800 million
2012 2013 2014*
FFR, OCT & IVUS
Penetration - WW
* 2014 penetration rates are projected
2012 2013 2014* 2012 2013 2014*

111111
2014 PCI Optimization™ System Growth:
Driven by Workflow Enhancement, Technology Advancement,
and Clinical Outcomes
Workflow
• Pre-installed, ready
to use FFR into all
new cath lab
systems
• Fully integrated
OPTIS™ systems
• Leverage growing
install base of
ILUMIEN™ OPTIS™
system and
QUANTIEN™
platform
Technology
• Launch new
PressureWire
Aeris™ system
• Roll out automated
stent planning tools
& 3D reconstruction
• Introduce angio
co-Registration with
OCT
Outcomes
• Adoption of
appropriate use
criteria
• Leverage FAME
clinical programs
• Now funding FAME
III
• Build upon
ILUMIEN™ OCT
clinical program

112112
Nearly all hemodynamic/cath
lab systems sold today have
Aeris-compatible FFR pre-
installed, making every recipient
a potential customer with no
capital purchasing barrier
Pre-installed FFR into Nearly All New Cath Lab Systems
Workflow Enhancement Drives Penetration

113113
 STJ’s first cath lab-integrated
PCI optimization™ platform,
offering both anatomical (OCT)
and physiologic (FFR)
assessment
 Always there, always on, no
barriers for usage
 Provides competitive advantage
 Limited launch anticipated 2H
2014
Workflow Enhancement Drives Penetration
Fully Integrated OPTIS PCI Optimization™ System

114114
Technology Advancement Drives Preference
 The only wireless FFR system on
the market
 Designed for quick access and
smooth stent delivery
 Near 1:1 torque response
matching frontline workhorse
guidewires
 Incorporates new miniaturized
radio transmitter for better
maneuverability and margin
improvement
 Launch ongoing
9th Generation PressureWire Aeris™ System
PressureWire Aeris
9th generation PressureWire

115115
 Directly links OCT with
angiography-- the standard
of care imaging modality
 Provides for more accurate
lesion assessment and stent
deployment compared to
angio or OCT alone
 Accelerates the OCT
learning curve
 Limited launch anticipated
2H 2014
Technology Advancement Drives Preference
Angio Co-Registration with OCT

116116
Clinical Outcome Drives Penetration
FAME Clinical Program Influenced Appropriate Use Criteria
FAME Clinical Program
AUC & Expert Consensus
supports the use of FFR

117
Left Atrial Appendage Closure
 We expect LAA closure to become an essential tool in the
tool box of full-service EP and interventional practices
 STJ has wide access to AF patients through existing sales
channels
 Full commercialization of the AMPLATZER™ Cardiac Plug
(ACP) is underway in approved markets
 Stable market share in a market with strong double digit
growth
 LAA closure device inclusion in ESC guidelines has
helped contribute to market growth

118
LAA Closure – Amplatzer™ Amulet device
 2nd generation device
 Improves upon an already successful ACP device
 Pre-loaded in catheter sheath to improve ease-of-use
 Addresses a broader range of patient anatomies
 Expect European launch in 2H 2014
AMPLATZER™ Amulet
Disc and Proximal End
Screw

119
LAA Closure – Re-launch U.S. IDE Study
 The ACP IDE trial enrollment was stopped in December 2013
 Trial was an event-driven design comparing LAA to OAC and
requiring up to 3000 patients
 Made decision to stop enrollment due to expected near-term
approval of a competitive device and potential enrollment challenges
 No safety or efficacy issues
 Currently working with FDA on a revised trial design which
should result in an accelerated time to market
 Expect to start enrollment in 2H 2014

120
Renal Denervation Update
 We remain optimistic about renal denervation as a potential
new growth driver
 Hypertension is an expensive, epidemic disease that has
significant clinical and cost implications for physicians,
hospitals, payers and patients
 Like many early stage therapies, we recognize there is a lot to
learn – at this time there are more questions than answers
 What we do know is that renal denervation has consistently
been shown to be safe
 We also know that STJ has a strong history with RF ablation
technologies
 The internally developed EnligHTN™ system uses a multi-
electrode system that differs from the competitive system
 We look forward to reviewing the SYMPLICITY HTN-3 clinical
trial results with our Global Renal Denervation Advisory Board
and the EnligHTNment Clinical Trial Steering Committee and
will incorporate lessons learned into our program

121
Tissue Valves Represent a Growing Segment for STJ
2009 2010 2011 2012 2013 2014E
 TAVR has helped the surgical aortic
valve replacement (SAVR) market to
grow through increased patient
referrals
 Since the launch of the Trifecta™
valve, STJ has almost doubled tissue
valve revenue through market growth
and share gains
STJ Tissue Heart Valve Market Share
STJ Tissue Heart Valve Revenue
$0
$50
$100
$150
$200
$250
$300
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014E
Millions
Trifecta Milestones:
CE Mark 2010
FDA 2011
PMDA 2012

122122
CV Summary
 PCI optimization™ is a large potential opportunity where
we lead in innovation, clinical development and market
expansion
 We expect a steady improvement in our growth rate as we
continue to transition our sales mix from legacy products
to growth drivers
 We are optimistic that in 2014 our tissue heart valves,
FFR, OCT and LAA will continue to grow at a high single
digit or low double digit rate

A deeper dive into Portico™
Transcatheter Aortic Valve
Phil Ebeling – Sr. Vice President, R&D
Device referenced is approved for CE Mark. Not available for sale in the U.S.

125
Market Opportunity
Diagnosed Prevalence (Severe Aortic Stenosis): 500K
25% TAVR penetration
Patients (US/EMEAC/Japan) 125K
Estimated 2013 Market Size ~$1.0B
Forward 5 Year CAGR 17%
Market Opportunity $2.5-3.0B
Transcatheter Aortic Valve Replacement (TAVR)

126
Positive Market Dynamics for TAVR
Positive Dynamics
 650 WW TAVR centers today
 Favorable reimbursement in place in 8
OUS geographies
 Long term clinical and economic
evidence is available and supports
TAVR
 Improving overall TAVR outcomes
(improved patient selection, lower
profile devices)
 TAVR moving into lower-risk patients
(SURTAVI, PARTNER II)
$329.1
$470.6
$648.5
$738.3
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
2013 2014
RevenueinThousands
ID
U.S.
$978
$1,209

127127
Portico™ Transcatheter Aortic Valve offers a design
alternative to many existing TAVR limitations and
challenges
 Designed to be fully resheathable and repositionable
 Designed to mitigate heart block
 Designed to minimize PV Leak
 Designed to minimize coronary ostia blockage post
implantation
 Designed for maximum durability

128128
Portico™ Transcatheter Aortic Valve is designed to
be fully resheathable and repositionable*
 The unique valve and delivery system design of Portico heart valve
allows the ability to fully reposition the valve:
 Resheath the valve proximally or distally*, in situ
 Retrieve the valve, if necessary
 Resheathability is designed to enable optimized valve positioning
during implantation and helps insure better outcomes (ex: PV Leak)
*Until fully deployed
Manoharan, G., St. Jude Medical Portico™ Transcatheter Aortic Valve Clinical Experience, EuroPCR, 05/17/2012.

129
mitigate heart block
 Designed to address conduction system interference
 Ability to fully reposition the valve in situ for improved placement accuracy
 Valve placed low within the stent frame allows for sealing without the valve
extending deep into the LVOT
 Nonflared annulus section of the stent frame
Valve placed
low within the
stent frame
Nonflared
annulus section
of the stent

130
minimize PV Leak
Calcific
nodules
 Single porcine pericardium cuff seam
 The large cells in the annulus section of
the stent are designed to minimize the
risk of PV leak
 Less metal — minimizing the potential of a
stent strut resting against a calcific nodule
 More tissue — allowing the tissue to
conform around calcific nodules
Paravalvular Leak Simulation

131
minimize coronary ostia obstruction post implant
 Large stent cells in the
aortic section of the stent,
allows access to coronary
ostia post-implant
Manoharan, G., St. Jude Medical Portico™ Transcatheter Aortic Valve Clinical Experience, EuroPCR, 05/17/2012.
Aortic
Section
Annulus
Section

132
 Portico transcatheter aortic
valve is designed for leaflet
coaptation in round and
elliptical annulus
configurations
 In vitro testing is completed
over the valve’s use range
and in various annulus
configurations to
assess durability and
hemodynamic
performance
Circular Configuration
Ellipse 0° Ellipse 90°
Portico™ Transcatheter Aortic Valve is designed for
maximum durability and hemodynamic performance

133
* Manoharan, G., How New Designs Lead to Improved Clinical Results in TAVR, TCT 2013

134
Portico™ Transcatheter Aortic Valve
US IDE Pivotal Trial, CE Mark Update
 Full IDE approval using 23 & 25mm valves at 40 US sites
in a head to head trial with other TAVR valves
 ~1610 patients split into high and extreme risk cohorts
 Randomized against commercially available TAVR valves
 Primary non-inferiority endpoint for all-cause mortality and disabling stroke at
one year
 27 & 29mm will be added in the trial in 2H 2014
 FDA has indicated that TAVR is now considered established rather than novel
 FDA has recently engaged STJ on alternative trial designs that should
significantly reduce the size and duration of the trial
 STJ will start enrollment under current design and use patients toward future
analysis
 On track for the first implants in 1H 2014
 CE Mark
 23, 25mm valves - market released
 27, 29mm valves - enrollment to begin 1H 2014, commercialize 2H 2014

135135
Next Generation Portico™ Transcatheter Aortic
Valve – Product Pipeline
 Delivery System Designs:
 Improved placement accuracy (co-axial alignment of
the valve)
 Reduction in vascular complications (further profile
reduction)
 Improved user interface (ergonomics)
 Valve Designs:
 Further minimization of PV Leaks (integrated solutions)
 Broader range of valve sizes

136136
Portico™ Transcatheter Aortic Valve Summary
 Positive clinical and economic evidence is driving the
growth of the TAVR market
 Portico transcatheter aortic valve is a next generation
product line that addresses many existing TAVR
limitations and challenges and is expected to become a
competitive new growth driver for St. Jude Medical

Growth through innovation in
Neuromodulation

139
Plano Warning Letter Resolution
 Completed all remediation activities associated with the
Plano site Form 483’s and warning letter
 Anticipate FDA re-inspection by end of 1H 2014

140
WW Neuromodulation Dynamics
 Approximately $2.0 billion market in 2014
 ~$1.5B chronic pain; ~$0.5B deep brain stimulation
 Expect both the US and International markets will grow at a mid to
high single digit rate in 2014
 Payers increased focus on clinical outcomes
 Market fundamentals support continued strong growth
 Severely under penetrated market
 Increasing stigma and impact from long-term opioid use
 Growing evidence for improved outcomes and healthcare economics with
earlier intervention
 Opportunities for share capture through innovation
 Leverage innovation resident in CRM devices and bring to SCS/DBS systems
 Create novel stimulation modes and explore anatomical targets
 Expand indications

141
SCS for Chronic Pain:
Need for alternative stimulation modes
 SCS for Neuropathic pain is an accepted
standard of care in the treatment of
chronic pain
 However, as therapy adoption grows there
is increasing awareness of SCS non-
responders or patients who become non-
responders over time
 Anecdotal evidence suggests as high as 20-
30% of CP market (over time)
 Little predictive evidence to say who will
respond/not respond
 Increasing market need for an alternative
stimulation mode to address non-
responders

142
Evolution of Stimulation Modes to Tune Therapy
Tonic
 Standard waveform in today’s devices
 Relatively low energy
 Recharge ~1-2 hours, ~2 times per week
High Frequency
 Reduces paresthesia
 Rapid battery drain
 Recharge ~4-6 hours, 1-2 times daily
STJ Burst
 Reduces paresthesia
 Minimal battery drain
 Recharge ~1-2 hours, ~2 times per week

143
Lateral
Discriminatory
Pathway
Medial
Affective/Attentional
Pathway
Pain Perception
Attention to pain
Why Burst Stimulation?
Pain processing patterns and
pathways
 Lateral discriminatory pathway –
controls pain perception
 Medial affective/attentional pathway –
controls emotional response and
attention to pain stimuli
IPG stimulation patterns and
pathways
 Tonic – Modulates only the lateral
pathway
 Burst – Modulates both the lateral
and medial pathways to maximize
effectiveness
1. Jahnsen H, Llinás R. : Voltage-dependent burst-to-tonic switching of thalamic
2. Harvey A. Swadlow1 & Alexander G. Gusev : The impact of 'bursting' thalamic impulses at a neocortical synapse. Nature
Neuroscience 4, 402 - 408 (2001).
3. Sherman SM : A wake-up call from the thalamus. Nature neuroscience, 2001 cell activity: an in vitro study. Arch Ital Biol.
1984 Mar;122(1):73-82.
4. DeRidder D, Plazier M, Kamerling N, Menovsky T, Vanneste S. (2013) Burst Spinal Cord Stimulation for Limb and Back
Pain. World Neurosurg. 2013 Jan 12. pii: S1878-8750.
5. DeRidder D., Vanneste S., Plazier M., van der Loo E., & Menovsky T. (2010). Burst Spinal Cord Stimulation: Toward
Paresthesia-Free Pain Suppression. Neurosurgery, 66(5): 986-990.
1-3
5
4-5

144
STJ Burst – Growing Body of Clinical Data*
Burst vs. Tonic Clinical Experience
 Consistent results across studies and sites
 Patient preference for Burst over Tonic
 Reduced paresthesia
 Improved activity levels
 Reduced attention to pain
0
1
2
3
4
5
6
7
8
9
Belgium The Netherlands Total
VisualanalogScale
A Multicenter Study on Tonic and
Burst Spinal Cord Stimulation (N=102)
baseline tonic stimulation burst stimulation
* Data on file
0
2
4
6
8
10
12
14
16
18
Pain intensity Impact on life
(affective)
Patient preference
VisualanalogScale
A Randomized Double-blind, Placebo-
controlled Study: FBSS (N=20)
Placebo Tonic (500Hz) Burst
0
1
2
3
4
5
6
7
Overall Pain Limb Pain Trunk Pain
VisualanalogScale
Burst in Patients with Chronic Tonic
Stimulation (N=21)
Tonic Burst

145
 Smallest SCS device on the market (<18cc)
 Rechargeable with industry leading 10 years
longevity
 Only device capable of bi-modal stimulation
patterns of both Burst and tonic
 Compatible with all legacy leads to include
percutaneous, paddle and perc-paddle types
 Lower power requirements vs. high frequency
 Reduced paresthesia sensation
 Expect CE mark and European launch 1H 2014
Prodigy™ SCS System with Burst Technology
SUNBurst IDE Study
 Burst vs. tonic
 First patient enrolled 2014

146
Protégé™ SCS System with
Upgradeable Technology
 First and only upgradeable SCS system
 Smallest SCS device on the market (<18cc)
 Longest warranty in its class
 Compatible with legacy leads to include
percutaneous, paddle and perc-paddle types
 New features can be introduced to the
Protégé system via software updates allowing
for upgraded technology to be used
 Anticipate U.S. launch 2H 2014
ID: H1’14
´´

147
SCS MRI Platform
Receive
Transmit
 Initial approval covers head and
extremity scans with few restrictions
 Addresses the majority of scan
procedures performed
 Includes percutaneous and paddle
leads
 Paddle lead MRI scan capability is
unique to STJ and represents largest
and fastest growing portion of our
business
 Anticipate EU and U.S. launch in
2H 2014
Providing STJ SCS patients access to diagnostics capabilities of
the MRI technology

148
Delivering the Next Generation Implantable Platforms
 New redesigned SCS and DBS system families
 Common electronics platform leveraging CRM
experience to impact the following attributes:
 Size - New smaller size/shape to address implanter and
patient needs
 Programmability - Expanded stimulation modes
 Configurability – Compatible with legacy and new lead
constructs to serve novel anatomical target sites (DRG)
 Longevity - Improved longevity and features to meet
global requirements
 MRI compatibility - Designed for maximum patient
safety and practice efficiency in the MRI environment
 Manufacturability - Improved manufacturability to
achieve high quality and reduce manufacturing costs
 Platform design to be completed 2014
Rechargeable
Current
New
Primary Cell
Current
New

149
Delivering the Next Generation External PlatformsIPG
Patient
Controller
Clinic
Programmer
Trial
Invisible
Trial
New
Programmer
Wireless
Patient Controller
Current 2014 2015

150
SCS of the Dorsal Root Ganglion (DRG)
Traditional SCS
DRG Stimulation
 DRG is where the primary sensory
neurons (PSNs) are located
 PSNs serve as a primary source of
information and important “pain”
processing point
 DRG is consistently located from
person to person making targeting
reliable and repeatable
 Requires ~95% less power
 Less positional variation in
stimulation
 Targets both focal and broad areas
of intractable chronic pain that
traditional SCS therapy has low
rates of success such as:
 Peripheral neuropathy
 Groin pain
 Abdominal pain
 CRPS
CAUTION: Investigational Device. Limited by Federal Law
to investigational use. Not available for sale in the US.

151
6%
4%
<1%
0%
2%
4%
6%
8%
10%
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
CRPS FBSS Peripheral
Neuropathies
SCSPenetration
Prevalence(Thousands)
SCS of the DRG
 Peripheral Neuropathies
 Highest prevalence of all pain syndromes with lowest SCS penetration rate
 Lowest traditional SCS success rate at 54%
 Highest DRG stimulation success rate at 90%

152
Head, back, leg and vascular
ONS (intractable chronic migraine)
RAP (refractory angina pectoris)
FBSS (with or without prior surgery)
PVD (peripheral vascular disease)
Thorax and focal lower extremity
Thoracic Neuropathies (Post-mastectomy,
thoracotomy)
Abdominal and Visceral Pain
Post-Surgical Pain (i.e. hip, knee, foot, etc.)
Groin and Testicular Pain
Phantom and Stump Pain (Post Amputation)
CRPS (localized foot/ knee/hand/)
Distally Located Neuropathies
Traditional SCS focus SCS of the DRG focus
SCS of the DRG Addresses a Unique and
Complementary Patient Population

153
Spinal Modulation, Inc. Axium™ SCS System
Complements STJ Portfolio for Chronic Pain
 STJ traditional SCS is very effective for
back pain
 SMI Axium SCS system is ideal for difficult-to-
treat anatomies including the groin, abdomen,
foot and lower limb
 Together we offer the broadest portfolio of
products to treat chronic pain
 STJ distribution in Europe and Australia
 STJ sales reps trained
 STJ has exclusive option to acquire SMI based
on regulatory and revenue milestones
 Axium U.S. IDE study ongoing

154
DBS for Movement Disorders –
Pathway to Broad Indication Coverage
Parkinson’s Disease
 IDE clinical trial completed with all
effectiveness and safety endpoints met
(results published in Lancet Neurol 2012:
11:140-149)
 Related device quality systems
improvements being implemented
 FDA PMA submission 1H 2014
Essential Tremor
 IDE clinical trial completed with all
effectiveness and safety endpoints met
 FDA PMA submission 1H 2014
 CE submission 1H 2014
Dystonia
 CE mark approval 2H 2013

155
Neuromodulation Summary
 We have completed all remediation activities associated
with the Plano site Form 483’s and warning letter and we
anticipate FDA re-inspection by the end of 1H 2014
 We expect the combined U.S. and Int’l market of $2 billion
to grow at a mid to high single digit rate in 2014
 We are leveraging our CRM experience to launch
redesigned, next generation SCS and DBS system
families
 We expect revenue for our neuromodulation business to
accelerate during 2014 due to the impact of new products

156156
Panel for Question and Answer Session

157157
Thank you for attending
St. Jude Medical’s
2014 Investor Meeting

2014 Investor Day Conference

Recomendados

Recomendados

Mais conteúdo relacionado

Mais procurados

Mais procurados (20)

Semelhante a 2014 Investor Day Conference

Semelhante a 2014 Investor Day Conference (20)

Último

Último (19)

2014 Investor Day Conference