HeartWare shares plunge; company expands board
Courtesy of www.medicaldevices.org
Douglas Godshall, president and CEO of Framingham-based HeartWare International
Framingham-based HeartWare International Inc., a medical device company specializing in the treatment of heart failure, continued to see its stock price decline Wednesday after a 35-percent dive Tuesday.
HeartWare’s stock price stood at $25.66 on Wednesday afternoon, a 10-year low. According to analysts, the company is struggling after releasing news at the JP Morgan Healthcare Conference this week that there are problems with a heart pump under development, called the MVAD pump, delaying a European trial. There is also investor opposition to a planned acquisition of Israeli company, Valtech Cardio, which was announced in the fall.
The company also announced this week that it has appointed Dr. Stephen Oesterle to its Board of Directors.
Oesterle’s appointment increases the size of the board to nine members. According to a statement, Oesterle will begin serving Jan. 18. The company said he brings “deep experience across his career of more than 30 years in cardiology and medical devices.” He served in senior leadership roles for more than 10 years at Medtronic, a medical device company based in Dublin, Ireland with U.S. headquarters in Minneapolis, and also worked as director of Invasive Cardiology Services at Massachusetts General Hospital.
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