"The key contributor to this growth was our successful launch of the HeartMate II LVAS (Left Ventricular Assist System) for bridge-to- transplantation (BTT) following its approval by the FDA in April. Our program to bring on new centers is ahead of expectations, as we added 26 during the quarter. We have also seen increased activity at existing centers and benefited from favorable pricing for the HeartMate II. In addition, we are seeing continued strong adoption of the HeartMate II in Europe," he added.
Burbach said that the company believes that factors contributing to increased utilization of mechanical circulatory support include the ongoing flow of favorable data around the HeartMate II, increasing clinician comfort with the device-based on the patient experience and ease of the procedure-and an improved reimbursement environment.
"Our financial performance also reflects solid growth at our International Technidyne Corporation (ITC) Division. Our ProTime(R) alternate site business had strong growth, as did our HEMOCHRON(R) coagulation product line, and our AVOX co-oximetry systems," Burbach noted.
The company also updated enrollment in the Destination Therapy (DT) arm of its Pivotal clinical trial for the HeartMate II. As of July 25, 2008, there were 570 patients enrolled in the DT arm of the trial. Enrollment in the randomized portion of the DT arm was 350 patients.
Thoratec reported revenues of $82.6 million in the second quarter of 2008 compared with revenues of $57.3 million in the second quarter of 2007. Cardiovascular Division revenues were $57.5 million versus $34.2 million in the same period a year ago. Revenues at ITC were $25.1 million versus $23.1 million a year ago.
GAAP gross margin for the second quarter of 2008 was 61.5 percent
versus 58.8 percent a year ago. Non-GAAP gross margin, whic
|SOURCE Thoratec Corporation|
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