), a leader in mechanical circulatory assistance devices,
recently revealed that it has accomplished the first human usage
of HeartMate PHP (percutaneous heart pump). This percutaneous
heart pump provided sustenance of over an hour to the first
patient to use PHP in a risk-prone percutaneous coronary
The HeartMate PHP setup is a heart pump, which utilizes
catheters to ensure hemodynamic left ventricle assistance. The
PHP set up extends Thoratec's mechanical circulatory support
systems, including HeartMate II and Centrimag.
Thoratec plans to continue its clinical studies on the usage
of HeartMate PHP to help patients undergoing cardiogenic shock as
well as risky percutaneous intervention. It is planning to
continue its pilot program in the second quarter of 2013. THOR
plans to start a CE Mark study in the back half of 2013.
Thoratec enjoys a first-mover advantage in the market it
serves. With HeartMate II, Thoratec enjoys a monopoly in the U.S.
market since it has developed the only device of its kind for the
destination therapy indication (for heart failure patients who
are not eligible for heart transplant). Favorable adoption trend
of the device is expected to support revenue growth moving
forward. However, its dominance in the bridge-to-transplant (BTT)
indication has ended following the FDA approval of
) Ventricular Assist System in Nov 2012.
Despite limited visibility, we are optimistic about Thoratec
successfully expanding its sales on the back of its HeartMate II
product line. The company continues to do well in the overseas
markets despite the economic turmoil in Europe. It received
regulatory approval in Japan in the fourth quarter of 2012 to
sell the HeartMate II as a BTT for victims of advanced heart
Thoratec currently retains a Zacks Rank #4 (Sell). We are more
) both of which carry a Zacks Rank #2 (Buy).
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THORATEC CORP (THOR): Free Stock Analysis
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