Thoratec warns of heart-pump failure; shares tank
Fri Oct 24, 2008 6:02pm (Reuters) - Shares of Thoratec Corp lost more than half their value after the cardiac device maker said wear and fatigue related to its implanted heart pump may require surgical replacement that could potentially be fatal.
The company initiated a worldwide medical-device correction of certain batches of the pump after 27 confirmed reports of damage to the percutaneous lead that required pump replacement.
In five of these cases, patients expired as a pump replacement was not feasible, the company said in a statement.
Thoratec had won U.S. regulatory approval for the device, HeartMate II Left Ventricular Assist System, in April. The device is designed for people with severe congestive heart failure and few medical options.
The company is notifying hospitals that the pump be replaced as soon as possible if damage to the lead is confirmed.
The company issued the warning for all serial numbers of the device with catalogue number 1355 or 102139.
Shares of the company fell to $12 in trading after the bell, from its Friday's close of $25.04 on Nasdaq. © Thomson Reuters 2008 All rights reserved
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Thoratec warns of heart-pump failure; shares tankFri Oct 24,...
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