Thursday, November 4, 2010

Thoratec Sells ITC To Warburg Pincus

Pleasanton-based Thoratec said today that it has sold its International Technidyne Corporation (ITC) division to private equity firm Warburg Pincus. The deal was worth $55M in cash. Thoratec said the sale will allow it to focus on its existing VAD business. Thoratec is a developer of device-based mechanical circulatory support therapies for treating advanced stage heart failure. ITC is a provider of blood testing device and other products.