Q2 EARNINGS: Thoratec slashes guidance as sales shrink
This article was originally published in Clinica
Executive Summary
Left ventricular assist device (LVAD) market leader Thoratec admitted being disappointed in its second-quarter results, as both its top and bottom line shrank. Revenues fell 10% to $118.1m, with sales of the firm’s flagship HeartMate device down 12% to $102.0m. Thoratec looks to be losing market share to number-two player HeartWare International, which recently posted a 38% jump in sales in Q2 as it saw increasing uptake of its rival HVAD device. The former has also not been helped by a study published in the NEJM last year last year linking its HeartMate II pump with an increased risk of blood clots.
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