St. Jude CEO Starks snarks rivals' 'lack of imagination'

October 11, 2013 by Arezu Sarvestani

St. Jude CEO Daniel Starks says his rivals' laser-focus on cheaper medical devices for emerging markets puts too much stake in the present rather than looking to the future.

St. Jude CEO Starks snarks rivals

St. Jude Medical (NYSE:STJ) CEO Daniel Starks has his own key to success, and it doesn't jibe well with some of his rivals, who he left unnamed in his criticism.

Starks told an audience at the Minnesota Venture Finance Conference this week that excessive focus on emerging markets fails to appreciate the potential of the medical device industry.

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"It shows lack of imagination and a focus on what is, rather than what should be," he said, the Minneapolis/St. Paul Business Journal reported.

Emerging markets have played a huge role in many medtech giants' plans, including St. Jude arch-nemesis Medtronic (NYSE:MDT), whose CEO Starks has publicly blasted before. The 2 Minnesota titans got into a slap-fight in 2011 when Starks accused Medtronic of a "whisper campaign" aimed at discrediting St. Jude's troubled Durata defibrillator leads.