Thoratec, which makes implantable devices for patients with advanced heart failure, paid $35 million to acquire an Irish company that specializes in transapical surgical access systems.
Pleasanton, Calif.-based Thoratec bought Apica Cardiovascular Limited for $35 million in cash with the potential payout of another $40 million contingent on clinical and sales milestones. The transaction allows Thoratec to take over development and commercialization of Apica’s Ventricular Assist Device (VAD) Surgical Implant System and the Apica Access Stabilization and Closure device. The technologies facilitate in transcatheter aortic valve replacement and transcatheter mitral valve replacement procedures using a transapical approach.
Thoratec makes the HeartMate II and HeartMate III Left Ventricular Assist Systems and Thoratec VAD. In a release, Thoratec President and CEO Gary F. Burbach said the deal will strengthen Thoratec’s market position by providing products customized for VAD procedures.
Thoratec is targeting the access stabilization and closure system as a support for less invasive and off-pump implantation of HeartMate devices. The system received CE mark in 2013.