1. Most Discussed
  2. Gainers & Losers
VCR 0.0¢

thoratec comments on status of lvad

  1. Fig_Jam

    4,756 Posts.

    Source:

    https://www.quicken.com/investments/news_center/article/printer.dcg?story=NewsStory/PR/20030916/SFTU121_1063738954.var

    Thoratec Comments on Status of LVAD Destination Therapy Coverage
    Tuesday, September 16, 2003 12:02 PM ET

    PLEASANTON, Calif., Sept. 16 /PRNewswire-FirstCall/ -- Thoratec Corporation (Nasdaq: THOR, news), a world leader in products to treat cardiovascular disease, today commented on the elapsed date for the issuance of a National Coverage Decision for LVADs (left ventricular assist devices) for Destination Therapy by the Centers for Medicare & Medicaid Services (CMS).


    "CMS provided no update on yesterday's due date for this coverage decision. However, we continue to have an ongoing positive dialog with them and we are encouraged by our belief that part of the delay may be a result of ongoing deliberations at CMS regarding different potential reimbursement scenarios that might be more equitable and appropriate for the providers of this therapy," said D. Keith Grossman, president and chief executive officer of Thoratec.

    "As we have stated in the past, the evidence of patient benefit is overwhelming as demonstrated by the REMATCH clinical trial -- a finding further supported by a strong recommendation for coverage by CMS's MCAC (Medicare Coverage Advisory Committee) panel which occurred more than six months ago. We understand the magnitude of the decision and appreciate the importance of CMS' deliberations. At the same time, there are real patients and their families waiting for access to this life-saving therapy and we hope CMS will implement a National Coverage Decision very quickly, as well as appropriate levels of reimbursement and an effective date as soon as possible," Grossman added.


    Thoratec Corporation is a world leader in products to great cardiovascular disease with its HeartMate® LVAS (left ventricular assist systems) and Thoratec® VAD (Ventricular Assist Device) implanted in more than 6,000 patients suffering from heart failure. In November 2002, the HeartMate was approved by the FDA as the first, and to date only, heart assist device for Destination Therapy, or permanent support, providing a new lifesaving treatment for end-stage heart failure patients ineligible for cardiac transplantation.


    The portions of this news release that relate to future plans, events or performance, are forward-looking statements. Investors are cautioned that all such statements involve risks and uncertainties, including risks related to continuing analysis of the REMATCH trial data, regulatory approval processes and healthcare reimbursement and coverage policies. These factors, and others, are discussed more fully under the heading, "Risk Factors" in Thoratec's 10-K for the fiscal year ended December 28, 2002, and other flings with the Securities and Exchange Commission. Actual results, events or performance may differ materially. These forward-looking statements speak only as of the date hereof. Thoratec undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events.

    Source: Thoratec Corporation

    Contact: Investors, Wayne Boylston, Chief Financial Officer of Thoratec Corporation, +1-925-846-8600; or Media, April Grefthen, ext. 165, or [email protected], or Jakob Jakobsen, ext. 161, or [email protected], both of FischerHealth, Inc., +1-310-577-7870, for Thoratec Corporation

    Cheers,

    Fig Jam

    I hold VCR

DISCLAIMER:
Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.

Top

Thank you for visiting HotCopper

We have detected that you are running ad blocking software.


HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.