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Thoratec CFO resigns

This article was originally published in Clinica

Executive Summary

David Smith, vice-president and chief financial officer of mechanical heart developer Thoratec, has resigned to "pursue other business opportunities". Mr Smith will stay on until 1 July to assist in the transition to a new CFO. Roxanne Oulman, currently vice-president of finance, will replace him on an interim basis until a permanent successor is named. She joined the Pleasanton, California-based company in 2004. Thoratec has also reiterated its previously issued financial guidance for 2011, predicting full-year revenues of $410-425m and GAAP net income of $1.02-1.12 per diluted share. However, it has recently been hit by concerns over its lead products, the HeartMate I and II artificial heart devices: in April, a study reported that 15% of patients using the products suffered a stroke, a higher risk than previously thought (, 19 April 2011).

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