A long-time investor in shares of Thoratec Corp is urging the cardiac device maker to put itself up for sale.Oracle Investment Management Inc of Greenwich, Connecticut, said it has sent a letter to Thoratec directors urging the board to hire an investment bank to conduct an auction to find an acquirer for the company.Oracle Investment said it believes Thoratec, a maker of left ventricular assist devices that help the heart circulate blood in heart failure patients, will be unable to maximize shareholder value as an independent public company.Oracle Investment, which owns about 5 percent of Thoratec's shares, said it expects the LVAD market to become one of the fastest-growing and largest in the medical device field, with a potential to generate $5 billion to $10 billion in sales.
Thoratec Corporation is a manufacture of mechanical circulatory support (MCS) with a product portfolio to treat a range of clinical needs for advanced heart failure patients. Shares of THOR traded higher by 1.87% or $0.57/share to $31.01. In the past year, the shares have traded as low as $22.33 and as high as $38.07. On average, 819679 shares of THOR exchange hands on a given day and today's volume is recorded at 527290.
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