Although the 2 companies are in ongoing discussions, no final deal has been agreed and the negotiations may still fall apart, the sources told Bloomberg. Thoratec could also opt to seek a different buyer, 1 of the people said.
THOR shares rose 19% to an all-time high of $57.98 in mid-day activity today, putting Thoratec’s valuation at more than $3 billion. The shares have climbed more than 74% this year amid new product developments and speculation the company could be an acquisition target. St. Jude rose 0.4%, giving it a market capitalization of $22 billion.
The left ventricular assist devices made by Thoratec and HeartWare help patients in need of heart transplants survive until a donor organ is available. The devices are attached to the left ventricle, the heart’s main pumping chamber. A tube runs around the heart and connects to the aorta, which funnels oxygen-rich blood to the rest of the body. A small electric motor ensures the blood is continuously moving between the 2. Former U.S. Vice President Dick Cheney received a Thoratec HeartMate II implant in 2012.