HeartWare International (NSDQ:HTWR) and Dualis MedTech GmbH are teaming up to develop a wireless left ventricular assist device, in a deal that could help the Framingham, Mass.-based cardiac device maker expand its product portfolio.
Company officials said engineering teams from Dualis and HeartWare have been working together since mid-2011 and have, “successfully demonstrated the feasibility of integrating Dualis’ proprietary wireless energy transfer technology with the HeartWare HVAD and MVAD systems,” according to a prepared release.
Under the deal, HeartWare will fund development for left ventricular assist devices (LVADs) and receive an option to fund programs to explore further developments in bi-ventricular support.
Plus, the cardiac device maker will receive first rights to future developments outside the field of ventricular assist devices, the company said.
In a presentation at the JP Morgan Healthcare Conference in San Francisco, officials said the deal "enables acceleration of wireless technology development and potential expansion for BiVAD technology application."
Dualis, a Germany-based med tech company is a spin-off from the German Aerospace Centre (DLR), the country’s national research center for aeronautics and space.
HeartWare also released preliminary sales numbers for 2011 of $82 million, a 50% increase from 2010.