St. Jude Denies Report Heart Devices Are Vulnerable to Cyber Attacks

Health CareReuters

St. Jude Medical Inc. on Friday denied allegations made by a research firm that its pacemakers and other heart devices were vulnerable to hacking and other cybersecurity threats.

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"St. Jude Medical stands behind the security and safety of our devices as confirmed by independent third parties and supported through our regulatory submissions," the company said Friday.

The medical-device maker's comments follow a report by Muddy Waters Capital LLC, which is known for shorting stocks, or betting that a company's share price will fall. Muddy Waters has said it has a short position in St. Jude.

In its report, Muddy Waters said it had seen demonstrations of cyber attacks against St. Jude devices, citing the work of cybersecurity startup MedSec. A call seeking a response from a Muddy Waters representative on St. Jude's comments wasn't immediately returned.

After the release of the Muddy Waters report on Thursday, St. Jude's stock slipped 5% and fell an additional 2.6% Friday before the medical-device maker issued its response.

Following the St. Jude statement, the company's stock ended the day at $78.01, up 19 cents from its close Thursday.

"We conclude that the report is false and misleading," St. Jude officials said.