St. Jude Medical completes acquisition of Thoratec Corporation

St. Jude Medical's acquisition of Thoratec Corporation has now been completed.

The global medical device firm believed Thoratec, an international leader in mechanical circulatory support technology for advanced heart failure treatment, represented a good fit and announced its takeover intentions recently.

With the completion of the deal, notable products such as the HeartMate II® ventricular assist device (VAD) and Thoratec's range of HeartMate 3™, HeartMate PHP™ devices now form part of St. Jude Medical's product portfolio.

Michael T. Rousseau, who is set to take over as St. Jude Medical's president and chief executive soon, said it is exciting to bring the two heart failure therapy leaders together.

He said the deal will allow the organisation to "build on our established franchise that is now uniquely positioned to offer physicians and patients innovative solutions across the heart failure continuum". 

"We believe this acquisition represents a tremendous opportunity and we welcome Thoratec’s employees as we look forward to changing the way the world views the treatment of this expensive epidemic disease," he commented.