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THORATEC LABORATORIES ANNOUNCES FILING OF
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PRELIMINARY S-4 RELATED TO PROPOSED MERGER AGREEMENT
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WITH THERMO CARDIOSYSTEMS: INVESTOR PRESENTATION
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AVAILABLE AT COMPANY'S WEB SITE
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(PLEASANTON, CA), November 6, 2000--Thoratec Laboratories Corporation
(NASDAQ: THOR), a medical device company, said it has filed a preliminary joint
proxy statement/prospectus related to its proposed merger agreement with Thermo
Cardiosystems (ASE: TCA) with the Securities and Exchange Commission. The filing
can be viewed at www.sec.gov.
The proposed transaction was announced on October 3, 2000. As proposed, it
will be a stock-for-stock transaction accounted for as a purchase. The
transaction is subject to the approval of shareholders of both companies and
regulatory review.
In addition, the company said it is meeting with investors over the next
several weeks to discuss the transaction. The company's presentation to
investors is available on the company's web site, www.thoratec.com.
Thoratec Laboratories Corporation is engaged in the research, development,
manufacturing and marketing of medical devices for circulatory support and
vascular graft applications, all of which incorporate its proprietary
biomatieral, Thoralon(R). The Thoratec(R) VAD (Ventricular Assist Device) System
is the only ventricular assist device that is approved for use as a
bridge-to-transplant and recovery from open-heart surgery. The company's
Vectra(TM) vascular access graft, which is used in patients undergoing
hemodialysis, is currently approved for sale in Europe, Japan and a number of
other foreign countries and is in final clinical trials in the U.S. Its Aria(TM)
coronary artery bypass graft, which is designed for use by patients having too
few suitable native blood vessels,
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is currently in clinical trials in the U.S. and Canada. For additional
information about Thoratec, visit the company's web site at www.thoratec.com.
Headquartered in Woburn, Mass., Thermo Cardiosystems is a leader in the
research, development and manufacturing of implantable left ventricular assist
systems (LVAS). Its air-driven and electric HeartMate heart assist devices are
implanted alongside the natural heart and take over the pumping function of the
left ventricle for patients whose hearts are too damaged or diseased to produce
adequate blood flow. Both devices are approved for commercial sale in the U.S.,
Europe and Canada. The company also supplies whole-blood coagulation testing
equipment and related disposables, as well as single-use skin incision devices.
Thermo Cardiosystems is a public subsidiary of Thermo Electron (NYSE: TMO). More
information is available on the Internet at www.thermocardio.com.
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 risk and uncertainties, including risks related to our
proposed transaction with Thermo Cardiosystems and the benefits thereof,
government regulatory approval processes and market acceptance of new products.
These factors, and others, are discussed more fully in both companies' annual
reports on Form 10-K for the fiscal year ended January 1, 2000, and their other
filings 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. The company 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.
OTHER IMPORTANT INFORMATION:
The transaction described in this announcement has not yet commenced. You
should read the joint proxy statement/prospectus filed with the Securities and
Exchange Commission because it contains important information about the
transaction. You can obtain the joint proxy statement/prospectus and other
documents that will be filed with the Securities and Exchange Commission for
free when they are available on the Securities and Exchange Commission's web
site at http://www.sec.gov. You can also obtain the joint proxy
statement/prospectus from the company for free by writing or calling:
Investor Relations Department
Thoratec Laboratories Corporation
6035 Stoneridge Drive
Pleasanton, California 94588
(925) 847-8600
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