Thoratec Sends HeartWare Early Valentine: $282 Million Proposal Is Accepted
This article was originally published in The Gray Sheet
Executive Summary
Thoratec will expand its presence in the heart failure market through its $282 million acquisition of miniaturized ventricular assist device maker HeartWare
You may also be interested in...
Financings In Brief
HeartWare raises $55 million in wake of failed Thoratec merger: Ventricular-assist device maker HeartWare raises $55 million in a private placement of 2.5 million common stock shares at $22 each, announced Aug. 10. The funds will help sustain development efforts for the firm's HeartWare Ventricular Assist System with HVAD pump in the wake of Thoratec's failed bid to acquire the company for $282 million. Thoratec pulled out of the deal July 31 after the Federal Trade Commission raised antitrust concerns (1"The Gray Sheet" Aug. 3, 2009). Headquartered in Sydney, Australia, and Framingham, Mass., HeartWare will use the proceeds from the private placement "for the furtherance of its clinical and commercial roll-out of the HeartWare HVAD and its pipeline of future pumps," the company says in a filing with the Securities and Exchange Commission. The system received CE mark approval in Europe for bridge-to-transplant therapy in January; a 150-patient U.S. trial is ongoing for the same indication (2"The Gray Sheet" Feb. 16, 2009)
Financings In Brief
HeartWare raises $55 million in wake of failed Thoratec merger: Ventricular-assist device maker HeartWare raises $55 million in a private placement of 2.5 million common stock shares at $22 each, announced Aug. 10. The funds will help sustain development efforts for the firm's HeartWare Ventricular Assist System with HVAD pump in the wake of Thoratec's failed bid to acquire the company for $282 million. Thoratec pulled out of the deal July 31 after the Federal Trade Commission raised antitrust concerns (1"The Gray Sheet" Aug. 3, 2009). Headquartered in Sydney, Australia, and Framingham, Mass., HeartWare will use the proceeds from the private placement "for the furtherance of its clinical and commercial roll-out of the HeartWare HVAD and its pipeline of future pumps," the company says in a filing with the Securities and Exchange Commission. The system received CE mark approval in Europe for bridge-to-transplant therapy in January; a 150-patient U.S. trial is ongoing for the same indication (2"The Gray Sheet" Feb. 16, 2009)
Research In Brief
Endurant: Medtronic announces May 6 it has completed enrolling patients in a clinical trial of its Endurant endovascular abdominal aortic aneurysm (AAA) stent graft two months ahead of schedule. The single-arm trial is intended to support a PMA for non-surgical AAA repair. The company expects to announce key data from the study in late 2010. The study enrolled about 150 patients at 30 centers. The primary endpoint is one-year treatment success. Medtronic is also sponsoring the Endurant Stent Graft Natural Selection Global Post-market (ENGAGE) registry, evaluating Endurant in about 1,200 patients at 80 centers on six continents (1"The Gray Sheet" April 13, 2009, p. 15)