HeartWare International Inc. and Thoratec Corp. End Deal

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HeartWare International Inc. and Thoratec Corp. End Deal

Joan Trombetti, Writer | August 03, 2009
After strong opposition from
the Federal Trade Commission,
HeartWare International Inc.
and Thoratec Corp.
have ended their
$282 million plans to merge
Dotmed has learned that after strong opposition from the Federal Trade Commission (FDC), HeartWare International Inc. and Thoratec Corp. have ended their plans for $282 million merger. Saying it would substantially reduce competition in the United States Market for left ventricular devices, the FTC stated that Thoratec "already enjoys a monopoly on the sale of LVADs in the U.S. and would only increase its hegemony if the merger is consummated."

Thoratec of Pleasanton, CA and Heartware of Framingham, MA, make implantable heart pumps, which are miniature devices designed to take on the role of the left ventricle pumping blood throughout the body.

Both companies expressed disappointment by the decision and, although supportive of the squelched deal, decided that it was in the best interest of shareholders not to pursue "what would likely be a protracted, costly and unpredictable litigation process."

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More information about HeartWare can be found at http://www.heartware.com.au. Information about Thoratec can be found at http://www.thoratec.com/.