February 13, 2009
California Co. To Buy Framingham Medical Device Maker
California medical device company Thoratec Corp. announced today that it will acquire HeartWare International, an Australian company with U.S. headquarters in Framingham, in a deal valued at $282 million.
The companies said they have entered into a definitive agreement, under which Thoratec will pay the purchase price half in cash and half in shares of its stock.
The boards of directors of both companies have approved the deal, but it is still subject to the approval of HeartWare's stockholders, regulatory clearance and other closing conditions.
HeartWare develops and manufactures miniaturized heart pumps. After the merger it will become part of Thortec's cardiovascular division.
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