HeartWare International Expands Intellectual Property and Technology Portfolio Through Definitive Agreement to Acquire World Heart Corporation for US$8 Million

March 29, 2012 - HeartWare International, Inc. (Nasdaq:HTWR) (ASX:HIN), which develops and manufactures miniaturized ventricular assist devices, and World Heart Corporation (Nasdaq:WHRT), which has been engaged in the development of left ventricular assist devices, announced that they have entered into a definitive merger agreement under which HeartWare will acquire WorldHeart for consideration of US$8 million, which will be paid in shares of HeartWare common stock or cash, at HeartWare's election.

"WorldHeart has been an important participant in the development of ventricular assist therapies for many years and has amassed over one hundred patents and patent applications. In line with our goal to be a leader in the VAD market for years to come, we believe that bolstering our patent portfolio and adding WorldHeart's technologies broadens our options for the future," said Doug Godshall, President and CEO of HeartWare. "While we are intensely focused on the FDA panel for our HVAD® System next month, and commencement of first-in-man studies for our MVAD® System mid-year, we look forward to integrating WorldHeart's technologies and members of its talented team into our research efforts."... HeartWare International's Press Release - WorldHeart Corporation's Press Release  -