Thoratec Acquires Apica Cardiovascular Ltd. - Quick Facts

(RTTNews) - Thoratec Corp. (THOR) announced that it has acquired Apica Cardiovascular Limited for an upfront cash payment of $35 million and potential future clinical and sales milestones of up to $40 million.

The company said that the Apica team based at facilities in Ireland and the United States will transition to Thoratec.

Thoratec said it will immediately assume ongoing development and commercialization of the Apica VAD SIS and ASC platforms. The ASC device received CE Mark approval in 2013 and is currently in limited commercial launch throughout Europe. The VAD SIS device has achieved important development milestones and Thoratec will continue to develop this technology to optimize its application for VAD implants prior to initiating human clinical trials.