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Thoratec Buys Heartware to Expand LVAD Market

Executive Summary

Thoratec's 34% increase in the revenue for 2008 was largely due to the introduction of its left ventricular assist device HeartMate II, a small axial flow pump weighing only 12 oz. while previous devices weighed three pounds. It took more than seventeen years for the HeartMate II to wend its way through development to the marketplace success that it is today, and that's not unusual in the LVAD space. But now, next generation LVADs with advantages are already nipping at Thoratec's heels. Thoratec's solution: consolidation. On February 13, Thoratec announced that it would acquire publicly-traded Australian LVAD company HeartWare International for $282 million, half in stock and half in cash.
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