The HeartMate PHP (percutaneous heart pump) is the latest acute hemodynamic support technology released by Thoratec, which recently received CE mark in Europe. The PHP is currently in U.S.clinical trials.
July 22, 2015 — St. Jude Medical and Thoratec announced that the boards of directors of both companies have unanimously approved a definitive agreement under which St. Jude Medical will acquire all of the outstanding shares of Thoratec. The agreement sets the price for $63.50 per share in a cash transaction valued at approximately $3.4 billion, net of cash acquired. The all-cash transaction represents a premium of 40.1 percent compared to $45.34, Thoratec's volume-weighted average trading price for the 30-trading-day period ending July 17, 2015, and a 35.4 percent premium to the closing price on Thoratec's last unaffected trading date on July 17, 2015, of $46.89. The transaction is expected to be completed in the fourth quarter of 2015.
Thoratec is the manufacturer of mechanical circulatory support (MCS) technology for the treatment of advanced heart failure (HF), which includes ventricular assist devices (VADs) that are used for both chronic and acute patient support. The combination of complementary product lines of St. Jude Medical and Thoratec will offer a comprehensive portfolio of products for the management and treatment of heart failure.
One of the latest additions to Thoratec's product lineup is the HeartMate PHP (percutaneous heart pump), which recently gained European CE mark clearance earlier this year. It is currently in U.S.clinical trials. The device is designed for acute, temporary, minimally invasive hemodynamic support in the cath lab or operating room.
This transaction accelerates St. Jude Medical's growth strategy by adding Thoratec's complementary products and technologies to St. Jude Medical's heart failure portfolio that includes its quadripolar cardiac resynchronization therapy (CRT), remote monitoring capabilities and CardioMEMS HF System.
For more information: www.sjm.com