St. Jude Medical Inc. has acquired all of the outstanding shares of MediGuide Inc., including the 41.3% stake owned by Elbit Systems Ltd, for $283 million in cash and the assumption of net liabilities of about $17 million.

MediGuide, Ltd., a medical-device company, develops tracking and imaging technologies for cardiovascular and endovascular applications.

Under terms of the deal, St. Jude will pay $138 million of the purchase price in December and then make payments of $111 million in November 2009 and up to $34 million in April 2010.

St. Jude Medical, Inc. designs, manufactures, and distributes cardiovascular medical devices and implantable neurostimulation devices worldwide. It operates in four segments: Cardiac Rhythm Management, Cardiovascular, Atrial Fibrillation, and Advanced Neuromodulation Systems.

The scrip of NYSE-listed St. Jude Med Inc closed on yesterday at $31.58, while Nasdaq-listed Elbit shares ended the day at $42.21.