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Following the Federal Trade Commission’s approval of a lawsuit to block the transaction, Thoratec Corporation today announced that it has abandoned its proposed $282 million acquisition of HeartWare International. The FTC’s complaint charged that the deal would be illegal because it would substantially reduce competition in the U.S. market for left ventricular assist devices (LVADs), a life-sustaining treatment for patients with advanced heart failure. The FTC’s complaint charged that Thoratec sought to maintain its monopoly on the commercial sale of LVADs in the United States by acquiring HeartWare.

“Today’s announcement is a major victory for the patients who rely on these critically important life-saving medical devices. Now that Thoratec and HeartWare have called off their proposed merger, U.S. consumers who are already facing increasing health care costs will reap the benefits of both current and future competition between these two companies,” said Richard Feinstein, Director of the FTC’s Bureau of Competition.

(FTC File No. 091-0064)
(Thoratec Statement.final.wpd)

The Federal Trade Commission works to promote competition, and to protect and educate consumers. The FTC will never demand money, make threats, tell you to transfer money, or promise you a prize. You can learn more about how competition benefits consumers, file an antitrust complaint, or comment on a proposed merger. For the latest news and resources, follow the FTC on social media, subscribe to press releases, and read our blog.

Contact Information

MEDIA CONTACT:
Mitchell J. Katz,
Office of Public Affairs
202-326-2161
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