Thoratec Corporation and HeartWare International, Inc. Announce Termination of Proposed T...( PLEASANTON Calif. FRAMING...),Health

PLEASANTON, Calif., FRAMINGHAM, Mass. and SYDNEY, July 31 /PRNewswire-FirstCall/ -- Thoratec Corporation (Nasdaq: THOR), a world leader in device-based mechanical circulatory support therapies to save, support and restore failing hearts, and HeartWare International, Inc. (Nasdaq: HTWR/ASX: HIN), which develops and manufactures miniaturized implantable heart pumps, announced today they have mutually agreed to terminate their merger agreement, announced on February 13, 2009, under which Thoratec would acquire HeartWare. The decision to terminate the merger agreement was made in response to a determination by the U.S. Federal Trade Commission ("FTC") to file a complaint in the U.S. Federal District Court challenging the proposed acquisition.

"We are disappointed by the Federal Trade Commission's decision to seek to enjoin the transaction," said Gary F. Burbach, president and chief executive officer of Thoratec. "Although we continue to believe in the benefits of the transaction, our management and board of directors have determined that it was in the best long-term interests of Thoratec and its shareholders not to pursue what would likely be a protracted, costly and unpredictable litigation process. We remain focused on building a much broader market for VADs in treating advanced stage heart failure," he added.

"After discussions with Thoratec and our board of directors, we agree that litigation to pursue the acquisition by Thoratec is not in the best interests of our shareholders. While we too are disappointed with the decision by the FTC, we are, nonetheless, excited about HeartWare's prospects going forward on a stand-alone basis and look forward to serving patients and clinicians," said Doug Godshall, president and chief executive officer of HeartWare.

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